Brokerages Expect Ophthotech Corp (OPHT) Will Post Earnings of -$1.31 Per Share
Wall Street brokerages expect Ophthotech Corp (NASDAQ:OPHT) to report earnings of ($1.31) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ophthotech Corp’s earnings, with the lowest EPS estimate coming in at ($1.57) and the highest estimate coming in at ($0.98). Ophthotech Corp posted earnings of ($1.03) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 27.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 3rd.
On average, analysts expect that Ophthotech Corp will report full-year earnings of ($3.68) per share for the current financial year, with EPS estimates ranging from ($4.96) to ($3.19). For the next financial year, analysts forecast that the company will report earnings of ($2.09) per share, with EPS estimates ranging from ($3.61) to ($0.58). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Ophthotech Corp.
Separately, Zacks Investment Research raised Ophthotech Corp from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, February 14th. Thirteen equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $53.70.
Ophthotech Corp (NASDAQ:OPHT) remained flat at $2.92 on Thursday. The company had a trading volume of 782,705 shares. The stock’s market capitalization is $104.56 million. Ophthotech Corp has a 12-month low of $2.78 and a 12-month high of $65.96. The stock’s 50-day moving average price is $3.48 and its 200 day moving average price is $16.25.
In other Ophthotech Corp news, CFO Glenn Sblendorio sold 7,388 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $3.56, for a total transaction of $26,301.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its position in Ophthotech Corp by 2.4% in the third quarter. M&T Bank Corp now owns 9,591 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 226 shares during the period. California State Teachers Retirement System increased its position in Ophthotech Corp by 0.8% in the third quarter. California State Teachers Retirement System now owns 64,552 shares of the biopharmaceutical company’s stock valued at $2,978,000 after buying an additional 500 shares during the period. Swiss National Bank increased its position in Ophthotech Corp by 1.3% in the third quarter. Swiss National Bank now owns 42,622 shares of the biopharmaceutical company’s stock valued at $1,966,000 after buying an additional 534 shares during the period. Teachers Advisors LLC increased its position in Ophthotech Corp by 1.2% in the third quarter. Teachers Advisors LLC now owns 49,244 shares of the biopharmaceutical company’s stock valued at $2,272,000 after buying an additional 573 shares during the period. Finally, BlackRock Investment Management LLC increased its position in Ophthotech Corp by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 114,778 shares of the biopharmaceutical company’s stock valued at $5,295,000 after buying an additional 1,003 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Ophthotech Corp 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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