ValuEngine upgraded shares of Ophthotech Corporation (NASDAQ:OPHT) from a hold rating to a buy rating in a research report sent to investors on Monday.

Separately, Stifel Nicolaus reiterated a hold rating and set a $4.00 price target on shares of Ophthotech Corporation in a research report on Thursday, September 21st. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $41.04.

Ophthotech Corporation (NASDAQ OPHT) opened at 2.78 on Monday. The stock’s market capitalization is $99.92 million. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $47.81. The company has a 50-day moving average price of $2.78 and a 200-day moving average price of $2.78.

Ophthotech Corporation (NASDAQ:OPHT) last announced its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The business had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $1.38 million. During the same quarter in the prior year, the firm earned ($0.85) EPS. Ophthotech Corporation’s revenue for the quarter was down 94.1% on a year-over-year basis. Analysts expect that Ophthotech Corporation will post $0.29 earnings per share for the current fiscal year.

WARNING: This article was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/10/03/ophthotech-corporation-opht-upgraded-to-buy-at-valuengine.html.

In related news, Chairman David R. Guyer sold 17,678 shares of Ophthotech Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total value of $45,609.24. Following the sale, the chairman now directly owns 37,692 shares in the company, valued at approximately $97,245.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 33,909 shares of company stock worth $87,485 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPHT. Morgan Stanley lifted its position in shares of Ophthotech Corporation by 839.7% in the first quarter. Morgan Stanley now owns 2,229,151 shares of the biopharmaceutical company’s stock valued at $8,159,000 after acquiring an additional 1,991,921 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ophthotech Corporation in the first quarter worth approximately $6,801,000. Stonepine Capital Management LLC increased its position in shares of Ophthotech Corporation by 53.4% during the first quarter. Stonepine Capital Management LLC now owns 3,516,489 shares of the biopharmaceutical company’s stock worth $12,870,000 after purchasing an additional 1,223,589 shares in the last quarter. Oxford Asset Management increased its position in shares of Ophthotech Corporation by 827.1% during the first quarter. Oxford Asset Management now owns 364,901 shares of the biopharmaceutical company’s stock worth $1,336,000 after purchasing an additional 325,540 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Ophthotech Corporation during the first quarter worth approximately $744,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

Ophthotech Corporation Company Profile

Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.

Analyst Recommendations for Ophthotech Corporation (NASDAQ:OPHT)

Receive News & Stock Ratings for Ophthotech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ophthotech Corporation and related stocks with our FREE daily email newsletter.