$180.65 Million in Sales Expected for Ophthotech Corporation (OPHT) This Quarter
Analysts forecast that Ophthotech Corporation (NASDAQ:OPHT) will announce sales of $180.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ophthotech Corporation’s earnings, with the lowest sales estimate coming in at $176.30 million and the highest estimate coming in at $185.00 million. Ophthotech Corporation reported sales of $1.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10,717.4%. The business is expected to announce its next quarterly 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 fiscal year, with estimates ranging from $180.80 million to $210.00 million. For the next year, analysts anticipate that the firm will post sales of $6.08 million per share, with estimates ranging from $3.20 million to $8.40 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Ophthotech Corporation.
Ophthotech Corporation (NASDAQ:OPHT) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The business had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $1.38 million. The company’s revenue was down 94.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.85) EPS.
A number of research firms have recently commented on OPHT. ValuEngine raised Ophthotech Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price objective on shares of Ophthotech Corporation in a research note on Thursday, September 21st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.33.
Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Ophthotech Corporation by 28.1% during the second 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 period. Stonepine Capital Management LLC raised its position in shares of Ophthotech Corporation by 1.7% during the second quarter. Stonepine Capital Management LLC now owns 3,576,189 shares of the biopharmaceutical company’s stock worth $9,155,000 after purchasing an additional 59,700 shares during the period. Tamarack Advisers LP raised its position in shares of Ophthotech Corporation by 32.7% during the second quarter. Tamarack Advisers LP now owns 625,000 shares of the biopharmaceutical company’s stock worth $1,600,000 after purchasing an additional 153,851 shares during the period. Federated Investors Inc. PA raised its position in shares of Ophthotech Corporation by 102.3% during the second 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. Finally, LMR Partners LLP acquired a new stake in shares of Ophthotech Corporation during the second quarter worth $269,000. 61.40% of the stock is currently owned by institutional investors.
Shares of Ophthotech Corporation (NASDAQ:OPHT) opened at 2.41 on Monday. The firm’s market cap is $86.62 million. The firm has a 50-day moving average price of $2.66 and a 200 day moving average price of $2.69. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $40.34.
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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