Ophthotech Corp. (OPHT) CEO David R. Guyer Sells 22,060 Shares of Stock
Ophthotech Corp. (NASDAQ:OPHT) CEO David R. Guyer sold 22,060 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 24,541 shares of the company’s stock, valued at $1,088,884.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ophthotech Corp. (NASDAQ:OPHT) opened at 45.30 on Thursday. The firm’s market capitalization is $1.61 billion. Ophthotech Corp. has a one year low of $38.70 and a one year high of $80.00. The stock’s 50 day moving average is $53.59 and its 200 day moving average is $52.20.
Ophthotech Corp. (NASDAQ:OPHT) last released its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.20. Ophthotech Corp. had a negative net margin of 271.28% and a negative return on equity of 296.63%. The business earned $28.20 million during the quarter, compared to analyst estimates of $18.64 million. On average, equities research analysts predict that Ophthotech Corp. will post ($4.89) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPHT. BlackRock Fund Advisors raised its position 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 worth $43,200,000 after buying an additional 34,905 shares in the last quarter. State Street Corp increased 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 last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of 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 purchased a new position in shares of Ophthotech Corp. during the first quarter valued at approximately $721,000. Finally, Princeton Capital Management Inc. increased its position in shares of 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. Institutional investors and hedge funds own 93.48% of the company’s stock.
Several brokerages recently issued reports on OPHT. Cowen and Company set a $60.00 price target on Ophthotech Corp. and gave the company a “buy” rating in a research note on Saturday, October 1st. Zacks Investment Research upgraded Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Wednesday, June 15th. Citigroup Inc. upped their target price on Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. BTIG Research restated a “buy” rating and set a $92.00 target price on shares of Ophthotech Corp. in a research note on Monday. Finally, Barclays PLC restated a “buy” rating on shares of Ophthotech Corp. in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Ophthotech Corp. has a consensus rating of “Buy” and a consensus target price of $82.91.
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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