BTIG Research restated their buy rating on shares of Ophthotech Corp. (NASDAQ:OPHT) in a report issued on Monday. BTIG Research currently has a $92.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently commented on the company. Cowen and Company set a $60.00 target price on Ophthotech Corp. and gave the company a buy rating in a report on Saturday, October 1st. Leerink Swann reissued a positive rating and issued a $72.00 target price on shares of Ophthotech Corp. in a report on Friday, September 30th. JPMorgan Chase & Co. raised their target price on Ophthotech Corp. from $81.00 to $95.00 and gave the company an overweight rating in a report on Thursday, September 8th. Goldman Sachs Group Inc. reissued a sell rating and issued a $45.00 target price on shares of Ophthotech Corp. in a report on Wednesday, August 10th. Finally, Citigroup Inc. raised their target price on Ophthotech Corp. from $91.00 to $92.00 and gave the company a buy rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ophthotech Corp. has a consensus rating of Buy and a consensus target price of $82.91.
Ophthotech Corp. (NASDAQ:OPHT) opened at 45.30 on Monday. The company has a 50-day moving average of $53.59 and a 200 day moving average of $52.20. The stock’s market cap is $1.61 billion. Ophthotech Corp. has a 1-year low of $38.70 and a 1-year high of $80.00.
Ophthotech Corp. (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. The firm earned $28.20 million during the quarter, compared to the consensus estimate of $18.64 million. Analysts predict that Ophthotech Corp. will post ($4.89) EPS for the current year.
In other news, President Samir Chandrakant Patel sold 20,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $64.21, for a total value of $1,284,200.00. Following the completion of the transaction, the president now owns 176,031 shares in the company, valued at $11,302,950.51. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David R. Guyer sold 24,060 shares of the firm’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 transaction, the chief executive officer now owns 56,451 shares of the company’s stock, valued at approximately $3,639,395.97. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in OPHT. Fiera Capital Corp purchased a new position in shares of Ophthotech Corp. during the second quarter worth $37,890,000. Slate Path Capital LP purchased a new position in shares of Ophthotech Corp. during the first quarter worth $18,176,000. Janus Capital Management LLC purchased a new position in shares of Ophthotech Corp. during the second quarter worth $21,706,000. State Street Corp boosted its position in shares of Ophthotech Corp. by 52.6% in the first quarter. State Street Corp now owns 1,078,837 shares of the biopharmaceutical company’s stock worth $45,601,000 after buying an additional 371,894 shares in the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of Ophthotech Corp. during the second quarter worth $17,886,000. Institutional investors and hedge funds 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.
Receive News & Ratings for Ophthotech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ophthotech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.