Shares of Ophthotech Corp. (NASDAQ:OPHT) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $78.00.
A number of equities research analysts have recently weighed in on OPHT shares. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $45.00 target price on shares of Ophthotech Corp. in a research note on Wednesday, August 10th. BTIG Research reaffirmed a “buy” rating and set a $92.00 target price on shares of Ophthotech Corp. in a research note on Monday, October 3rd. Citigroup Inc. lifted their target price on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Ophthotech Corp. from $81.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, September 8th. Finally, Cowen and Company set a $60.00 target price on shares of Ophthotech Corp. and gave the company a “buy” rating in a research note on Saturday, October 1st.
Shares of Ophthotech Corp. (NASDAQ:OPHT) opened at 39.78 on Wednesday. The company’s market cap is $1.42 billion. Ophthotech Corp. has a 1-year low of $38.70 and a 1-year high of $80.00. The firm’s 50 day moving average is $51.56 and its 200-day moving average is $52.09.
Ophthotech Corp. (NASDAQ:OPHT) last announced its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.20. The business had revenue of $28.20 million for the quarter, compared to analyst estimates of $18.64 million. Ophthotech Corp. had a negative net margin of 271.28% and a negative return on equity of 296.63%. Equities analysts expect that Ophthotech Corp. will post ($4.92) earnings per share for the current year.
In other Ophthotech Corp. news, CEO David R. Guyer sold 22,060 shares of Ophthotech Corp. stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $44.37, for a total value of $978,802.20. Following the completion of the transaction, the chief executive officer now directly owns 24,541 shares of the company’s stock, valued at $1,088,884.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Samir Chandrakant Patel sold 20,000 shares of Ophthotech Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $64.21, for a total transaction of $1,284,200.00. Following the completion of the transaction, the president now directly owns 176,031 shares of the company’s stock, valued at $11,302,950.51. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fiera Capital Corp purchased a new position in shares of Ophthotech Corp. during the second quarter valued at about $37,890,000. Slate Path Capital LP purchased a new position in shares of Ophthotech Corp. during the first quarter valued at about $18,176,000. Janus Capital Management LLC purchased a new position in shares of Ophthotech Corp. during the second quarter valued at about $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 valued at $45,601,000 after buying an additional 371,894 shares during the period. Finally, Senator Investment Group LP purchased a new position in shares of Ophthotech Corp. during the second quarter valued at about $17,886,000. 93.48% of the stock is owned by institutional investors and hedge funds.
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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