Ophthotech Corp.’s (OPHT) “Buy” Rating Reaffirmed at BTIG Research
A number of other analysts also recently issued reports on the stock. Leerink Swann reiterated a positive rating and issued a $72.00 price target on shares of Ophthotech Corp. in a report on Friday. Goldman Sachs Group Inc. reiterated a sell rating and issued a $45.00 price target on shares of Ophthotech Corp. in a report on Wednesday, August 10th. JPMorgan Chase & Co. lifted their price target on shares of Ophthotech Corp. from $81.00 to $95.00 and gave the company an overweight rating in a report on Thursday, September 8th. Barclays PLC reiterated a buy rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th. Finally, Citigroup Inc. lifted their price target on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the company a buy rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $83.64.
Ophthotech Corp. (NASDAQ:OPHT) opened at 45.66 on Monday. The stock’s 50 day moving average is $54.05 and its 200 day moving average is $52.23. The company’s market capitalization is $1.63 billion. Ophthotech Corp. has a 52 week low of $38.06 and a 52 week high of $80.00.
Ophthotech Corp. (NASDAQ:OPHT) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, beating 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 net margin of 271.28% and a negative return on equity of 296.63%. On average, equities research analysts expect that Ophthotech Corp. will post ($4.89) earnings per share for the current year.
In other news, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the president now owns 176,031 shares in the company, valued at approximately $11,302,950.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David R. Guyer sold 24,060 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were 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 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 currently owned by company insiders.
Several large investors have recently bought and sold shares of OPHT. Royal Bank of Canada raised its stake in Ophthotech Corp. by 64.3% in the first quarter. Royal Bank of Canada now owns 10,645 shares of the biopharmaceutical company’s stock valued at $449,000 after buying an additional 4,167 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Ophthotech Corp. during the first quarter valued at approximately $721,000. Slate Path Capital LP acquired a new stake in Ophthotech Corp. during the first quarter valued at approximately $18,176,000. Renaissance Technologies LLC raised its stake in Ophthotech Corp. by 20.3% in the first quarter. Renaissance Technologies LLC now owns 362,500 shares of the biopharmaceutical company’s stock valued at $15,323,000 after buying an additional 61,085 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in Ophthotech Corp. during the first quarter valued at approximately $727,000. Institutional investors and hedge funds own 93.48% of the company’s stock.
Ophthotech Corp. Company Profile
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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