$180.65 Million in Sales Expected for Ophthotech Corporation (OPHT) This Quarter
Brokerages expect Ophthotech Corporation (NASDAQ:OPHT) to announce $180.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ophthotech Corporation’s earnings, with the highest sales estimate coming in at $185.00 million and the lowest estimate coming in at $176.30 million. Ophthotech Corporation reported sales of $1.67 million in the same quarter last year, which indicates a positive year over year growth rate of 10,717.4%. The company is expected to issue its next earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Ophthotech Corporation will report full year sales of $180.65 million for the current financial year, with estimates ranging from $180.80 million to $210.00 million. For the next year, analysts forecast that the business will report sales of $6.08 million per share, with estimates ranging from $3.20 million to $8.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Ophthotech Corporation.
Ophthotech Corporation (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.45. The business 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 in the previous year, the business posted ($0.85) earnings per share.
A number of research analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $4.00 price objective on shares of Ophthotech Corporation in a research report on Thursday, September 21st. ValuEngine upgraded shares of Ophthotech Corporation from a “hold” rating to a “buy” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ophthotech Corporation has a consensus rating of “Hold” and a consensus price target of $41.04.
Shares of Ophthotech Corporation (NASDAQ OPHT) opened at 2.73 on Wednesday. The firm has a 50-day moving average price of $2.78 and a 200 day moving average price of $2.77. The stock’s market cap is $98.12 million. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $45.54.
Several large investors have recently modified their holdings of the company. Stonepine Capital Management LLC grew its position in shares of Ophthotech Corporation by 1.7% in the second quarter. Stonepine Capital Management LLC now owns 3,576,189 shares of the biopharmaceutical company’s stock valued at $9,155,000 after purchasing an additional 59,700 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ophthotech Corporation by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock worth $10,298,000 after purchasing an additional 14,766 shares during the last quarter. Morgan Stanley lifted its position in shares of Ophthotech Corporation by 839.7% during the 1st quarter. Morgan Stanley now owns 2,229,151 shares of the biopharmaceutical company’s stock worth $8,159,000 after purchasing an additional 1,991,921 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Ophthotech Corporation during the 1st quarter worth about $6,801,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ophthotech Corporation by 28.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock worth $1,672,000 after purchasing an additional 143,349 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors.
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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