Shares of Ophthotech Corp. (NASDAQ:OPHT) rose 2.8% on Thursday . The stock traded as high as $56.15 and last traded at $55.19, with a volume of 382,454 shares changing hands. The stock had previously closed at $53.67.

OPHT has been the topic of several recent analyst reports. Zacks Investment Research raised Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, May 10th. JPMorgan Chase & Co. raised Ophthotech Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $60.00 to $84.00 in a report on Thursday, June 2nd. Finally, Barclays PLC initiated coverage on Ophthotech Corp. in a report on Wednesday, April 27th. They issued an “overweight” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $85.90.

The stock has a 50-day moving average of $53.96 and a 200-day moving average of $51.33. The company’s market cap is $1.97 billion.

Ophthotech Corp. (NASDAQ:OPHT) last released its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.33) by $0.30. The company had revenue of $15.70 million for the quarter, compared to the consensus estimate of $7.22 million. Equities research analysts predict that Ophthotech Corp. will post ($4.67) earnings per share for the current year.

In other news, CEO David R. Guyer sold 22,060 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $46.18, for a total value of $1,018,730.80. Following the transaction, the chief executive officer now directly owns 54,451 shares in the company, valued at $2,514,547.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $46.79, for a total value of $935,800.00. Following the completion of the transaction, the president now owns 231,008 shares in the company, valued at $10,808,864.32. The disclosure for this sale can be found here.

Several institutional investors have made changes to their positions in the stock. New York State Common Retirement Fund increased its position in shares of Ophthotech Corp. by 212.9% in the fourth quarter. New York State Common Retirement Fund now owns 70,413 shares of the biopharmaceutical company’s stock valued at $5,530,000 after buying an additional 47,913 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Ophthotech Corp. during the fourth quarter valued at approximately $3,298,000. US Bancorp DE increased its position in shares of Ophthotech Corp. by 72.1% in the fourth quarter. US Bancorp DE now owns 65,741 shares of the biopharmaceutical company’s stock valued at $5,163,000 after buying an additional 27,541 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Ophthotech Corp. during the fourth quarter valued at approximately $1,984,000. Finally, ProShare Advisors LLC increased its position in shares of Ophthotech Corp. by 9.7% in the fourth quarter. ProShare Advisors LLC now owns 31,563 shares of the biopharmaceutical company’s stock valued at $2,479,000 after buying an additional 2,802 shares during the last quarter.

Ophthotech Corporation is a United States-based biopharmaceutical company. The Company is engaged in developing and commercializing therapies for the treatment of diseases of the eye and focuses on developing therapeutics for age-related macular degeneration (AMD). Its product pipeline includes Fovista anti-platelet derived growth factor (PDGF) therapy, which is in Phase III clinical trials for use in combination with anti-VEGF drugs to disrupt the formation of abnormal new blood vessels in wet AMD.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.