Ophthotech Corp. (NASDAQ:OPHT)‘s stock had its “buy” rating reiterated by equities researchers at Barclays PLC in a research note issued to investors on Wednesday. They presently have a $70.00 target price on the biopharmaceutical company’s stock. Barclays PLC’s price objective points to a potential upside of 97.24% from the company’s current price.

The analysts wrote, “Barclays Thinks Ophthotech Corp’s Stock is Going to Recover | Analyst Ratings

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Home » Barclays Thinks Ophthotech Corp’s Stock is Going to Recover”

OPHT has been the topic of several other research reports. Zacks Investment Research cut shares of Ophthotech Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. BTIG Research reiterated a “buy” rating and set a $92.00 price objective on shares of Ophthotech Corp. in a research report on Friday, August 19th. Leerink Swann reiterated a “positive” rating and set a $72.00 price objective on shares of Ophthotech Corp. in a research report on Friday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of Ophthotech Corp. from $81.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, September 8th. Finally, Goldman Sachs Group Inc. reiterated a “sell” rating and set a $45.00 price objective on shares of Ophthotech Corp. in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.36.

Analyst Recommendations for Ophthotech Corp. (NASDAQ:OPHT)

Shares of Ophthotech Corp. (NASDAQ:OPHT) opened at 35.49 on Wednesday. The stock’s market cap is $1.26 billion. The firm’s 50-day moving average is $41.04 and its 200 day moving average is $50.54. Ophthotech Corp. has a 12 month low of $29.85 and a 12 month high of $80.00.

Ophthotech Corp. (NASDAQ:OPHT) last released its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.64) by $0.07. The company had revenue of $1.67 million for the quarter, compared to the consensus estimate of $6.20 million. Ophthotech Corp. had a negative net margin of 323.19% and a negative return on equity of 916.07%. On average, equities analysts predict that Ophthotech Corp. will post ($4.92) EPS for the current year.

In other news, CEO David R. Guyer sold 22,060 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $35.61, for a total transaction of $785,556.60. Following the completion of the sale, the chief executive officer now directly owns 24,541 shares of the company’s stock, valued at $873,905.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $55.17, for a total transaction of $1,103,400.00. Following the sale, the president now directly owns 24,239 shares of the company’s stock, valued at $1,337,265.63. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Ophthotech Corp. by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,590 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,382 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Ophthotech Corp. by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 3,582 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 559 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Ophthotech Corp. by 66.0% in the third quarter. Great West Life Assurance Co. Can now owns 3,651 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 1,451 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ophthotech Corp. by 138.0% in the second quarter. BlackRock Inc. now owns 3,965 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 2,299 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Ophthotech Corp. during the second quarter worth about $227,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:OPHT

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