FY2016 EPS Estimates for Ophthotech Corp. Cut by Gabelli (OPHT)
Ophthotech Corp. (NASDAQ:OPHT) – Investment analysts at Gabelli reduced their FY2016 earnings estimates for Ophthotech Corp. in a note issued to investors on Wednesday. Gabelli analyst K. Kedra now forecasts that the brokerage will post earnings of ($4.55) per share for the year, down from their prior forecast of ($4.40).
Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.64) by $0.07. Ophthotech Corp. had a negative net margin of 323.19% and a negative return on equity of 916.07%. The business had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $6.20 million.
A number of other equities analysts have also recently commented on OPHT. Barclays PLC reissued a “buy” rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th. Citigroup Inc. increased their target price on Ophthotech Corp. from $91.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Goldman Sachs Group Inc. reissued a “sell” rating and set a $45.00 target price on shares of Ophthotech Corp. in a report on Wednesday, August 10th. BTIG Research reissued a “buy” rating and set a $92.00 target price on shares of Ophthotech Corp. in a report on Friday, August 19th. Finally, JPMorgan Chase & Co. increased their target price on Ophthotech Corp. from $81.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $88.36.
Ophthotech Corp. (NASDAQ:OPHT) opened at 36.41 on Friday. The stock’s market cap is $1.28 billion. Ophthotech Corp. has a 12-month low of $29.85 and a 12-month high of $80.00. The company’s 50-day moving average price is $40.41 and its 200-day moving average price is $50.43.
In other Ophthotech Corp. news, President Samir Chandrakant Patel sold 20,000 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $52.80, for a total transaction of $1,056,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David R. Guyer sold 22,060 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.61, for a total value of $785,556.60. Following the sale, the chief executive officer now directly owns 24,541 shares of the company’s stock, valued at approximately $873,905.01. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently bought and sold shares of OPHT. BNP Paribas Arbitrage SA boosted its stake in Ophthotech Corp. by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,590 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 1,382 shares during the period. Great West Life Assurance Co. Can boosted its stake in 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 valued at $168,000 after buying an additional 1,451 shares during the period. Teacher Retirement System of Texas boosted its stake in 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 valued at $183,000 after buying an additional 559 shares during the period. BlackRock Inc. boosted its stake in Ophthotech Corp. by 138.0% in the second quarter. BlackRock Inc. now owns 3,965 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 2,299 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Ophthotech Corp. during the second quarter valued at about $227,000. 92.83% of the stock is owned by 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.
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