Shares of Ophthotech Corp. (NASDAQ:OPHT) rose 2.8% during mid-day trading 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 research reports. Zacks Investment Research raised Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, June 15th. Barclays PLC initiated coverage on Ophthotech Corp. in a research note on Wednesday, April 27th. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Ophthotech Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $84.00 in a report on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $85.90.

The firm’s market capitalization is $2.07 billion. The company has a 50-day moving average price of $54.32 and a 200-day moving average price of $51.22.

Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($1.03) earnings per share 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 analysts’ expectations of $7.22 million. On average, equities analysts forecast that Ophthotech Corp. will post ($4.67) EPS for the current fiscal year.

In related news, CFO Glenn Sblendorio sold 671 shares of Ophthotech Corp. stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $57.20, for a total value of $38,381.20. Following the transaction, the chief financial officer now owns 1,750 shares in the company, valued at approximately $100,100. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder A/S Novo sold 1,300,000 shares of Ophthotech Corp. stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $49.00, for a total transaction of $63,700,000.00. Following the completion of the transaction, the insider now owns 3,610,489 shares in the company, valued at approximately $176,913,961. The disclosure for this sale can be found here.

A number of institutional investors have modified their holdings of OPHT. GSA Capital Partners LLP boosted its position in shares of Ophthotech Corp. by 19.4% in the fourth quarter. GSA Capital Partners LLP now owns 16,908 shares of the biopharmaceutical company’s stock worth $1,328,000 after buying an additional 2,743 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Ophthotech Corp. during the fourth quarter worth approximately $1,984,000. ProShare Advisors LLC boosted 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 worth $2,479,000 after buying an additional 2,802 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Ophthotech Corp. by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 43,931 shares of the biopharmaceutical company’s stock worth $3,450,000 after buying an additional 755 shares during the last quarter. Finally, US Bancorp DE boosted 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 worth $5,163,000 after buying an additional 27,541 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.