Ophthotech Corporation’s (OPHT) Hold Rating Reaffirmed at Stifel Nicolaus
Ophthotech Corporation (NASDAQ:OPHT)‘s stock had its “hold” rating reaffirmed by Stifel Nicolaus in a research note issued on Thursday. They presently have a $4.00 price objective on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 43.37% from the company’s current price.
Shares of Ophthotech Corporation (NASDAQ OPHT) traded down 5.0143% on Thursday, reaching $2.6501. The company had a trading volume of 316,672 shares. The company has a 50-day moving average price of $2.73 and a 200-day moving average price of $2.83. The firm’s market cap is $95.25 million. Ophthotech Corporation has a one year low of $2.24 and a one year high of $59.46.
Ophthotech Corporation (NASDAQ:OPHT) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The firm had revenue of $1.66 million during the quarter, compared to analyst estimates of $1.38 million. The firm’s quarterly revenue was down 94.1% on a year-over-year basis. During the same period last year, the business posted ($0.85) earnings per share. On average, analysts expect that Ophthotech Corporation will post $0.29 earnings per share for the current fiscal year.
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In other news, Chairman David R. Guyer sold 17,678 shares of Ophthotech Corporation stock in a transaction 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 completion of the sale, the chairman now directly owns 37,692 shares of the company’s stock, valued at approximately $97,245.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 33,909 shares of company stock valued at $87,485 over the last three months. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPHT. Morgan Stanley increased its stake in shares of Ophthotech Corporation by 839.7% in the 1st quarter. Morgan Stanley now owns 2,229,151 shares of the biopharmaceutical company’s stock valued at $8,159,000 after buying an additional 1,991,921 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ophthotech Corporation in the 1st quarter valued at $6,801,000. Stonepine Capital Management LLC increased its stake in shares of Ophthotech Corporation by 53.4% in the 1st quarter. Stonepine Capital Management LLC now owns 3,516,489 shares of the biopharmaceutical company’s stock valued at $12,870,000 after buying an additional 1,223,589 shares during the period. Oxford Asset Management increased its stake in shares of Ophthotech Corporation by 827.1% in the 1st quarter. Oxford Asset Management now owns 364,901 shares of the biopharmaceutical company’s stock valued at $1,336,000 after buying an additional 325,540 shares during the period. Finally, Thrivent Financial For Lutherans acquired a new stake in shares of Ophthotech Corporation in the 1st quarter valued at $744,000. 61.40% of the stock is owned by institutional investors.
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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