BTIG Research restated their buy rating on shares of Ophthotech Corp. (NASDAQ:OPHT) in a research note released on Tuesday morning. The firm currently has a $92.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently commented on OPHT. Citigroup Inc. increased their target price on Ophthotech Corp. from $91.00 to $92.00 and gave the stock 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. Goldman Sachs Group Inc. reaffirmed a sell rating and set a $45.00 target price on shares of Ophthotech Corp. in a report on Wednesday, August 10th. JPMorgan Chase & Co. increased their target price on Ophthotech Corp. from $81.00 to $95.00 and gave the stock an overweight rating in a report on Thursday, September 8th. Finally, Zacks Investment Research downgraded Ophthotech Corp. from a buy rating to a hold rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $87.56.

Ophthotech Corp. (NASDAQ:OPHT) opened at 58.98 on Tuesday. The stock’s market capitalization is $2.10 billion. Ophthotech Corp. has a 12-month low of $35.72 and a 12-month high of $80.00. The stock’s 50 day moving average price is $54.73 and its 200-day moving average price is $51.56.

Ophthotech Corp. (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.20. The firm earned $28.20 million during the quarter, compared to the consensus estimate of $18.64 million. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. Analysts expect that Ophthotech Corp. will post ($4.89) earnings per share for the current year.

In other news, President Samir Chandrakant Patel sold 41,846 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $51.23, for a total transaction of $2,143,770.58. Following the completion of the sale, the president now directly owns 174,992 shares of the company’s stock, valued at approximately $8,964,840.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David R. Guyer sold 24,060 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $64.47, for a total value of $1,551,148.20. Following the sale, the chief executive officer now directly owns 56,451 shares of the company’s stock, valued at $3,639,395.97. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Ophthotech Corp. by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 3,582 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 559 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ophthotech Corp. by 138.0% in the second quarter. BlackRock Inc. now owns 3,965 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 2,299 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Ophthotech Corp. during the second quarter valued at about $227,000. Oxford Asset Management purchased a new stake in shares of Ophthotech Corp. during the second quarter valued at about $267,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Ophthotech Corp. during the second quarter valued at about $274,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Ophthotech Corp. Company Profile

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.

5 Day Chart for NASDAQ:OPHT

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