$180.65 Million in Sales Expected for Ophthotech Corporation (OPHT) This Quarter
Wall Street brokerages predict that Ophthotech Corporation (NASDAQ:OPHT) will announce sales of $180.65 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ophthotech Corporation’s earnings, with estimates ranging from $176.30 million to $185.00 million. Ophthotech Corporation reported sales of $1.67 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10,717.4%. The business is expected to report its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Ophthotech Corporation will report full year sales of $180.65 million for the current fiscal year, with estimates ranging from $180.80 million to $210.00 million. For the next fiscal year, analysts expect that the company will post sales of $6.08 million per share, with estimates ranging from $3.20 million to $8.40 million. Zacks’ sales averages are an average based on a survey of research firms that cover Ophthotech Corporation.
Ophthotech Corporation (NASDAQ:OPHT) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $1.38 million. The company’s revenue for the quarter was down 94.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.85) earnings per share.
In related news, Chairman David R. Guyer sold 17,678 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $2.58, for a total transaction of $45,609.24. Following the completion of the sale, the chairman now directly owns 37,692 shares of the company’s stock, valued at approximately $97,245.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 33,909 shares of company stock valued at $87,485. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in OPHT. Creative Planning boosted its position in Ophthotech Corporation by 4,867.3% during the 2nd quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 45,996 shares during the period. Federated Investors Inc. PA boosted its position in Ophthotech Corporation by 102.3% during the 2nd quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 28,040 shares during the period. SG Americas Securities LLC boosted its position in Ophthotech Corporation by 67.7% during the 1st quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock worth $186,000 after purchasing an additional 20,537 shares during the period. Teachers Advisors LLC boosted its position in Ophthotech Corporation by 6.1% during the 4th quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 2,999 shares during the period. Finally, LMR Partners LLP purchased a new stake in Ophthotech Corporation during the 2nd quarter worth $269,000. 61.56% of the stock is owned by hedge funds and other institutional investors.
Ophthotech Corporation (NASDAQ OPHT) traded up 1.20% on Friday, reaching $2.52. The company had a trading volume of 524,062 shares. The firm’s market capitalization is $90.57 million. Ophthotech Corporation has a 52-week low of $2.24 and a 52-week high of $59.99. The stock’s 50-day moving average price is $2.72 and its 200 day moving average price is $2.86.
About Ophthotech Corporation
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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