Ophthotech Corp (OPHT) Receives Average Rating of “Buy” from Brokerages
Shares of Ophthotech Corp (NASDAQ:OPHT) have been given an average rating of “Buy” by the four research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $3.63.
Several brokerages have recently commented on OPHT. ValuEngine lowered Ophthotech from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. TheStreet upgraded Ophthotech from an “e+” rating to a “c” rating in a research report on Thursday, November 30th. Finally, Zacks Investment Research upgraded Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective on the stock in a research report on Monday, November 13th.
Shares of Ophthotech (OPHT) traded down $0.09 during trading on Wednesday, hitting $2.67. The stock had a trading volume of 257,943 shares, compared to its average volume of 401,895. The company has a market cap of $96.40, a price-to-earnings ratio of 1.71 and a beta of 1.43. Ophthotech has a 12-month low of $2.24 and a 12-month high of $4.81.
A number of institutional investors and hedge funds have recently bought and sold shares of OPHT. Wells Fargo & Company MN grew its position in Ophthotech by 182.2% during the 4th quarter. Wells Fargo & Company MN now owns 33,160 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 21,411 shares during the last quarter. Alambic Investment Management L.P. bought a new stake in shares of Ophthotech in the 4th quarter worth approximately $211,000. Two Sigma Investments LP bought a new stake in shares of Ophthotech in the 4th quarter worth approximately $367,000. Eversept Partners LLC bought a new stake in shares of Ophthotech in the 4th quarter worth approximately $465,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Ophthotech in the 4th quarter worth approximately $622,000. Institutional investors and hedge funds own 62.61% of the company’s stock.
Ophthotech 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.
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