ValuEngine Lowers Ophthotech (OPHT) to Hold

ValuEngine lowered shares of Ophthotech (NASDAQ:OPHT) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Ophthotech from a hold rating to a strong-buy rating and set a $3.25 price objective for the company in a research note on Monday, November 13th. Stifel Nicolaus reissued a hold rating and set a $4.00 price objective on shares of Ophthotech in a research note on Thursday, September 21st. Finally, TheStreet raised Ophthotech from an e+ rating to a c rating in a research note on Thursday, November 30th.

Ophthotech (OPHT) traded up $0.03 during trading on Friday, hitting $3.30. The stock had a trading volume of 361,400 shares, compared to its average volume of 558,700. Ophthotech has a 52-week low of $2.24 and a 52-week high of $5.25. The company has a market capitalization of $116.77, a price-to-earnings ratio of 2.12 and a beta of 1.58.

In related 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 transaction of $52,698.80. Following the completion of the sale, the insider now owns 50,494 shares of the company’s stock, valued at $161,075.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the chief executive officer now directly owns 44,584 shares of the company’s stock, valued at approximately $142,222.96. The disclosure for this sale can be found here. Insiders have sold 29,898 shares of company stock valued at $95,375 in the last three months. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of OPHT. First Manhattan Co. bought a new stake in Ophthotech during the third quarter worth about $1,201,000. Goldman Sachs Group Inc. lifted its stake in Ophthotech by 28.1% during the second quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock worth $1,672,000 after purchasing an additional 143,349 shares during the last quarter. Stonepine Capital Management LLC lifted its stake in Ophthotech by 1.7% during the second quarter. Stonepine Capital Management LLC now owns 3,576,189 shares of the biopharmaceutical company’s stock worth $9,155,000 after purchasing an additional 59,700 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Ophthotech by 73.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 118,166 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 49,928 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Ophthotech by 102.3% during the second quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 28,040 shares during the last quarter. 62.48% of the stock is owned by hedge funds and other institutional investors.

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About Ophthotech

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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