Several other brokerages have also recently commented on OPHT. BTIG Research reissued a buy rating and issued a $92.00 price target on shares of Ophthotech Corp. in a research note on Friday, August 19th. Zacks Investment Research upgraded Ophthotech Corp. from a hold rating to a buy rating and set a $59.00 target price for the company in a report on Wednesday, June 15th. Citigroup Inc. boosted their target price on Ophthotech Corp. from $91.00 to $92.00 and gave the stock a buy rating in a report on Thursday, August 4th. Barclays PLC restated a buy rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. upgraded Ophthotech Corp. from a neutral rating to an overweight rating and upped their price target for the stock from $60.00 to $84.00 in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $84.80.
Ophthotech Corp. (NASDAQ:OPHT) traded down 3.97% on Friday, reaching $44.30. 700,031 shares of the company traded hands. Ophthotech Corp. has a 52-week low of $38.06 and a 52-week high of $80.00. The firm has a 50 day moving average price of $54.33 and a 200 day moving average price of $52.05. The stock’s market capitalization is $1.58 billion.
Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. The firm had revenue of $28.20 million for the quarter, compared to the consensus estimate of $18.64 million. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. Equities research analysts predict that Ophthotech Corp. will post ($4.89) EPS for the current year.
In other Ophthotech Corp. news, President Samir Chandrakant Patel sold 20,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $52.80, for a total value of $1,056,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David R. Guyer sold 24,060 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $64.47, for a total value of $1,551,148.20. Following the completion of the sale, the chief executive officer now owns 56,451 shares in the company, valued at $3,639,395.97. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in shares of Ophthotech Corp. by 16.0% in the first quarter. Franklin Resources Inc. now owns 587,702 shares of the biopharmaceutical company’s stock worth $24,842,000 after buying an additional 80,930 shares during the period. BlackRock Group LTD boosted its stake in shares of Ophthotech Corp. by 53.5% in the first quarter. BlackRock Group LTD now owns 19,687 shares of the biopharmaceutical company’s stock valued at $833,000 after buying an additional 6,858 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Ophthotech Corp. by 3.5% in the first quarter. BlackRock Fund Advisors now owns 1,022,007 shares of the biopharmaceutical company’s stock valued at $43,200,000 after buying an additional 34,905 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Ophthotech Corp. by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 663,813 shares of the biopharmaceutical company’s stock valued at $28,059,000 after buying an additional 14,043 shares during the last quarter. Finally, Shufro Rose & Co. LLC boosted its stake in shares of Ophthotech Corp. by 16.4% in the first quarter. Shufro Rose & Co. LLC now owns 13,475 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.
About Ophthotech Corp.
Ophthotech Corporation is a biopharmaceutical company. The Company specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). Its advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs.
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