Ophthotech (NASDAQ:OPHT) was upgraded by equities researchers at TheStreet from an “e+” rating to a “c” rating in a research report issued on Thursday.
A number of other brokerages have also issued reports on OPHT. Zacks Investment Research upgraded shares of Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 target price for the company in a research report on Monday, November 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 target price on shares of Ophthotech in a report on Thursday, September 21st. Finally, ValuEngine raised shares of Ophthotech from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Twelve research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.31.
Shares of Ophthotech (NASDAQ OPHT) opened at $3.20 on Thursday. Ophthotech has a twelve month low of $2.24 and a twelve month high of $40.34. The firm has a market cap of $113.16, a PE ratio of 2.00 and a beta of 1.56.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC lifted its position in shares of Ophthotech by 1.7% in 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 in the last quarter. Vanguard Group Inc. raised its position in Ophthotech by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock valued at $10,298,000 after acquiring an additional 14,766 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Ophthotech by 28.1% during the second quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock valued at $1,672,000 after acquiring an additional 143,349 shares in the last quarter. Tamarack Advisers LP raised its position in Ophthotech by 32.7% during the second quarter. Tamarack Advisers LP now owns 625,000 shares of the biopharmaceutical company’s stock valued at $1,600,000 after acquiring an additional 153,851 shares in the last quarter. Finally, First Manhattan Co. bought a new position in Ophthotech during the third quarter valued at approximately $1,201,000. 62.57% of the stock is owned by institutional investors and hedge funds.
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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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