Ophthotech Corp (OPHT) Trading Down 4.2%
Ophthotech Corp (NASDAQ:OPHT) fell 4.2% during trading on Monday . The stock traded as low as $58.17 and last traded at $58.56, with a volume of 225,917 shares. The stock had previously closed at $61.13.
Several research firms have recently commented on OPHT. Barclays PLC began coverage on Ophthotech Corp in a research note on Wednesday, April 27th. They issued an “overweight” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded Ophthotech Corp from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday, June 15th. Citigroup Inc. increased their price target on Ophthotech Corp from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded Ophthotech Corp from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $84.00 in a research note on Thursday, June 2nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $91.43.
The stock’s market capitalization is $2.06 billion. The firm’s 50-day moving average price is $57.52 and its 200 day moving average price is $50.68.
Ophthotech Corp (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $18.64 million. Equities research analysts forecast that Ophthotech Corp will post ($4.97) EPS for the current year.
In related news, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the president now directly owns 213,377 shares in the company, valued at $11,377,261.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder A/S Novo sold 1,300,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $49.00, for a total transaction of $63,700,000.00. Following the transaction, the insider now owns 3,610,489 shares of the company’s stock, valued at $176,913,961. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the stock. GSA Capital Partners LLP increased its position in 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 in the last quarter. First Trust Advisors LP acquired a new position in Ophthotech Corp during the fourth quarter worth about $1,984,000. US Bancorp DE increased its position in 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 in the last quarter. Finally, New York State Common Retirement Fund increased its position in Ophthotech Corp by 212.9% in the fourth quarter. New York State Common Retirement Fund now owns 70,413 shares of the biopharmaceutical company’s stock worth $5,530,000 after buying an additional 47,913 shares in the last quarter.
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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