Ophthotech Corp (OPHT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Ophthotech Corp (NASDAQ:OPHT) have received an average recommendation of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.31.

Several equities analysts recently commented on the company. ValuEngine upgraded Ophthotech from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price objective on shares of Ophthotech in a research note on Thursday, September 21st. Finally, Zacks Investment Research upgraded Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective on the stock in a research note on Monday, November 13th.

Ophthotech (OPHT) traded up $0.06 during trading on Friday, reaching $3.20. The company had a trading volume of 665,056 shares, compared to its average volume of 867,109. Ophthotech has a fifty-two week low of $2.24 and a fifty-two week high of $40.34. The stock has a market capitalization of $115.14, a P/E ratio of 2.01 and a beta of 1.40.

Several large investors have recently bought and sold shares of OPHT. Vanguard Group Inc. lifted its position in shares of Ophthotech by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock worth $10,298,000 after acquiring an additional 14,766 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ophthotech by 3.2% during the first quarter. Geode Capital Management LLC now owns 240,571 shares of the biopharmaceutical company’s stock worth $880,000 after acquiring an additional 7,501 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Ophthotech by 73.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 118,166 shares of the biopharmaceutical company’s stock worth $433,000 after acquiring an additional 49,928 shares in the last quarter. Creative Planning lifted its position in shares of Ophthotech by 4,867.3% during the second quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 45,996 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Ophthotech by 97.9% during the second quarter. Canada Pension Plan Investment Board now owns 260,600 shares of the biopharmaceutical company’s stock worth $667,000 after acquiring an additional 128,900 shares in the last quarter. Hedge funds and other institutional investors own 62.57% of the company’s stock.

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About Ophthotech

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.

Analyst Recommendations for Ophthotech (NASDAQ:OPHT)

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