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

Shares of Ophthotech Corp (NASDAQ:OPHT) have earned an average recommendation of “Buy” from the four research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.63.

A number of equities research analysts recently weighed in on OPHT shares. Zacks Investment Research raised Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a report on Monday, November 13th. ValuEngine raised Ophthotech from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, TheStreet raised Ophthotech from an “e+” rating to a “c” rating in a report on Thursday, November 30th.

In other news, insider David R. Guyer sold 16,520 shares of Ophthotech stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $3.19, for a total value of $52,698.80. Following the completion of the sale, the insider now directly owns 50,494 shares of the company’s stock, valued at approximately $161,075.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn Sblendorio sold 8,089 shares of Ophthotech stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $3.19, for a total value of $25,803.91. Following the completion of the sale, the chief executive officer now directly owns 44,584 shares of the company’s stock, valued at $142,222.96. The disclosure for this sale can be found here. Insiders have sold a total of 34,971 shares of company stock valued at $111,481 over the last ninety days. 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. First Manhattan Co. acquired a new stake in shares of Ophthotech in the 3rd quarter valued at $1,201,000. Acadian Asset Management LLC acquired a new stake in shares of Ophthotech in the 4th quarter valued at $622,000. Goldman Sachs Group Inc. increased its stake in shares of Ophthotech by 28.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock valued at $1,672,000 after buying an additional 143,349 shares during the period. Stonepine Capital Management LLC increased its stake in shares of Ophthotech by 1.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 3,576,189 shares of the biopharmaceutical company’s stock valued at $9,155,000 after buying an additional 59,700 shares during the period. Finally, Federated Investors Inc. PA increased its stake in shares of Ophthotech by 102.3% in the 2nd quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 28,040 shares during the period. 62.48% of the stock is owned by institutional investors.

Ophthotech (NASDAQ OPHT) remained flat at $$2.94 during mid-day trading on Friday. 260,651 shares of the company’s stock were exchanged, compared to its average volume of 354,770. Ophthotech has a fifty-two week low of $2.24 and a fifty-two week high of $4.86. The stock has a market capitalization of $105.95, a price-to-earnings ratio of 1.87 and a beta of 1.58.

Ophthotech (NASDAQ:OPHT) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported $5.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.38 by $0.87. Ophthotech had a negative return on equity of 69.40% and a net margin of 26.69%. analysts anticipate that Ophthotech will post 2.88 earnings per share for the current year.

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Ophthotech 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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