Ophthotech Corp. (OPHT) Stock Price Down 2.9%
Ophthotech Corp. (NASDAQ:OPHT) was down 2.9% on Friday . The company traded as low as $51.36 and last traded at $51.45, with a volume of 225,190 shares. The stock had previously closed at $52.97.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Wednesday, June 15th. BTIG Research reaffirmed a “buy” rating and set a $92.00 price objective on shares of Ophthotech Corp. in a report on Friday, August 19th. Citigroup Inc. lifted their price objective on Ophthotech Corp. from $91.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Barclays PLC reaffirmed a “buy” rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. raised Ophthotech Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $84.00 in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.33.
The company has a 50-day moving average of $57.31 and a 200 day moving average of $50.69. The firm’s market cap is $1.83 billion.
Ophthotech Corp. (NASDAQ:OPHT) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. The company earned $28.20 million during the quarter, compared to the consensus estimate of $18.64 million. On average, analysts anticipate that Ophthotech Corp. will post ($4.89) earnings per share for the current fiscal year.
In other Ophthotech Corp. news, CEO David R. Guyer sold 24,060 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $64.47, for a total value of $1,551,148.20. Following the transaction, the chief executive officer now directly owns 56,451 shares of the company’s stock, valued at approximately $3,639,395.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Samir Chandrakant Patel sold 20,000 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $52.80, for a total transaction of $1,056,000.00. The disclosure for this sale can be found here.
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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