Ophthotech Corp. (OPHT) Shares Up 4.8%
Ophthotech Corp. (NASDAQ:OPHT)’s share price shot up 4.8% during mid-day trading on Wednesday . The stock traded as high as $61.30 and last traded at $61.13, with a volume of 328,132 shares traded. The stock had previously closed at $58.32.
Several research firms have recently issued reports on OPHT. Barclays PLC restated a “buy” rating on shares of Ophthotech Corp. in a research report on Tuesday. Zacks Investment Research lowered Ophthotech Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. upgraded Ophthotech Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $84.00 in a research report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $85.90.
The stock’s market capitalization is $2.19 billion. The firm has a 50-day moving average price of $54.89 and a 200-day moving average price of $50.81.
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, topping the Thomson Reuters’ consensus estimate of ($1.33) by $0.30. The business earned $15.70 million during the quarter, compared to analysts’ expectations of $7.22 million. On average, analysts expect that Ophthotech Corp. will post ($4.67) earnings per share for the current year.
In other Ophthotech Corp. news, CEO David R. Guyer sold 22,060 shares of the business’s stock in a transaction on 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 sale, 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 filing with the SEC, which is accessible through this link. Also, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction on 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 sale, 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 hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake 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 valued at $1,328,000 after buying an additional 2,743 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Ophthotech Corp. during the fourth quarter valued at about $1,984,000. ProShare Advisors LLC raised its stake 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. California State Teachers Retirement System raised its stake 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 valued at $3,450,000 after buying an additional 755 shares during the last quarter. Finally, US Bancorp DE raised its stake 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.
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.
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