Ophthotech Corp.’s (OPHT) “Positive” Rating Reaffirmed at Leerink Swann
OPHT has been the subject of a number of other research reports. BTIG Research restated a buy rating and set a $92.00 price objective on shares of Ophthotech Corp. in a research report on Friday, August 19th. Barclays PLC restated a buy rating on shares of Ophthotech Corp. in a research report on Tuesday, July 19th. Zacks Investment Research downgraded shares of Ophthotech Corp. from a buy rating to a hold rating in a research report on Tuesday, July 5th. JPMorgan Chase & Co. upped their price objective on shares of Ophthotech Corp. from $81.00 to $95.00 and gave the stock an overweight rating in a research report on Thursday, September 8th. Finally, Citigroup Inc. upped their price objective on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $84.80.
Ophthotech Corp. (NASDAQ:OPHT) traded down 3.97% during trading on Friday, reaching $44.30. 700,031 shares of the company were exchanged. Ophthotech Corp. has a 12 month low of $38.06 and a 12 month high of $80.00. The firm’s market capitalization is $1.58 billion. The stock has a 50 day moving average price of $54.33 and a 200 day moving average price of $52.05.
Ophthotech Corp. (NASDAQ:OPHT) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.05) by $0.20. The company earned $28.20 million during the quarter, compared to the consensus estimate of $18.64 million. Ophthotech Corp. had a negative net margin of 271.28% and a negative return on equity of 296.63%. On average, analysts expect that Ophthotech Corp. will post ($4.89) EPS for the current fiscal year.
In related news, President Samir Chandrakant Patel sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $64.21, for a total value of $1,284,200.00. Following the sale, the president now directly owns 176,031 shares of the company’s stock, valued at $11,302,950.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David R. Guyer sold 24,060 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $64.47, for a total transaction of $1,551,148.20. Following the completion of the sale, the chief executive officer now directly owns 56,451 shares in the company, valued at $3,639,395.97. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its stake in 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 in the last quarter. State Street Corp raised its position in 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 last quarter. BlackRock Institutional Trust Company N.A. raised its position in 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. Schonfeld Strategic Advisors LLC acquired a new position in Ophthotech Corp. during the first quarter valued at approximately $721,000. Finally, Princeton Capital Management Inc. raised its position in Ophthotech Corp. by 93.0% in the second quarter. Princeton Capital Management Inc. now owns 18,452 shares of the biopharmaceutical company’s stock valued at $942,000 after buying an additional 8,890 shares during the last quarter. 93.48% of the stock is currently 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.