Ophthotech Corp (OPHT) Given Average Rating of “Buy” by Analysts

Ophthotech Corp (NASDAQ:OPHT) has received a consensus recommendation of “Buy” from the four brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.63.

A number of analysts recently issued reports on OPHT shares. Zacks Investment Research raised Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective on the stock in a report on Monday, November 13th. TheStreet raised Ophthotech from an “e+” rating to a “c” rating in a report on Thursday, November 30th. Finally, ValuEngine cut Ophthotech from a “buy” rating to a “hold” rating in a report on Sunday, December 31st.

Shares of Ophthotech (NASDAQ OPHT) traded down $0.09 on Wednesday, reaching $2.67. The company had a trading volume of 257,943 shares, compared to its average volume of 401,895. The stock has a market cap of $96.40, a PE ratio of 1.71 and a beta of 1.43. Ophthotech has a twelve month low of $2.24 and a twelve month high of $4.81.

In other Ophthotech news, insider David R. Guyer sold 16,520 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $3.19, for a total value of $52,698.80. Following the sale, the insider now 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 SEC, which is accessible through this hyperlink. Also, CEO Glenn Sblendorio sold 8,089 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $142,222.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,971 shares of company stock worth $111,481. Insiders own 2.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of Ophthotech by 182.2% in the 4th quarter. Wells Fargo & Company MN now owns 33,160 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 21,411 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Ophthotech during the 4th quarter valued at about $211,000. Two Sigma Investments LP bought a new position in shares of Ophthotech during the 4th quarter valued at about $367,000. Eversept Partners LLC bought a new position in shares of Ophthotech during the 4th quarter valued at about $465,000. Finally, Acadian Asset Management LLC bought a new position in shares of Ophthotech during the 4th quarter valued at about $622,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

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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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