Ophthotech Corp. (OPHT) Trading Up 4.3%
Ophthotech Corp. (NASDAQ:OPHT)’s share price was up 4.3% during mid-day trading on Monday . The company traded as high as $53.00 and last traded at $52.48, with a volume of 418,973 shares. The stock had previously closed at $50.32.
A number of equities analysts have issued reports on OPHT shares. Goldman Sachs Group Inc. reiterated a “sell” rating and issued a $45.00 price objective on shares of Ophthotech Corp. in a report on Wednesday, August 10th. Barclays PLC reiterated a “buy” rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th. BTIG Research reiterated a “buy” rating and issued a $92.00 price objective on shares of Ophthotech Corp. in a report on Friday. Zacks Investment Research upgraded Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, May 10th. Finally, Citigroup Inc. raised their price target on Ophthotech Corp. from $91.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.33.
The firm’s market capitalization is $1.88 billion. The company has a 50 day moving average of $57.70 and a 200-day moving average of $50.43.
Ophthotech Corp. (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.20. The business had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $18.64 million. Analysts predict that Ophthotech Corp. will post ($5.03) earnings per share for the current fiscal year.
In other news, major shareholder A/S Novo sold 1,300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $49.00, for a total value of $63,700,000.00. Following the transaction, the insider now owns 3,610,489 shares in the company, valued at $176,913,961. The transaction was disclosed in a document filed 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 that occurred on 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 completion of the transaction, the chief executive officer now owns 56,451 shares in the company, valued at approximately $3,639,395.97. 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.