$4.31 EPS Expected for Ophthotech Corporation (NASDAQ:OPHT) This Quarter
Equities research analysts forecast that Ophthotech Corporation (NASDAQ:OPHT) will post earnings per share (EPS) of $4.31 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ophthotech Corporation’s earnings. The lowest EPS estimate is $4.23 and the highest is $4.38. Ophthotech Corporation posted earnings per share of ($1.71) in the same quarter last year, which indicates a positive year-over-year growth rate of 352%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Ophthotech Corporation will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $1.71 to $2.65. For the next financial year, analysts forecast that the business will post earnings of ($1.96) per share, with EPS estimates ranging from ($2.96) to ($1.50). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Ophthotech Corporation.
Ophthotech Corporation (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $1.38 million. Ophthotech Corporation’s revenue for the quarter was down 94.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.85) earnings per share.
Separately, Zacks Investment Research upgraded Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Tuesday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.53.
In related news, Chairman David R. Guyer sold 17,678 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total value of $45,609.24. Following the transaction, the chairman now directly owns 37,692 shares in the company, valued at $97,245.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 34,609 shares of company stock worth $89,249 over the last quarter. 2.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Creative Planning raised its stake in shares of Ophthotech Corporation by 4,867.3% in the second quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 45,996 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Ophthotech Corporation by 102.3% in the second quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 28,040 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Ophthotech Corporation by 67.7% in the first quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock worth $186,000 after buying an additional 20,537 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Ophthotech Corporation by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 2,999 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Ophthotech Corporation during the second quarter worth about $269,000. 72.52% of the stock is currently owned by institutional investors.
Ophthotech Corporation (NASDAQ OPHT) traded down 1.661% during midday trading on Tuesday, hitting $2.665. The stock had a trading volume of 42,027 shares. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $62.11. The firm has a 50-day moving average of $2.66 and a 200-day moving average of $3.24. The company’s market cap is $95.55 million.
Ophthotech Corporation Company Profile
Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.
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