Ophthotech Corp. (OPHT) Stock Price Up 4.3%
Ophthotech Corp. (NASDAQ:OPHT)’s share price rose 4.3% during 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.
OPHT has been the subject of a number of research reports. BTIG Research reissued a “buy” rating and issued a $92.00 price target on shares of Ophthotech Corp. in a research note on Friday, August 19th. Goldman Sachs Group Inc. reissued a “sell” rating and issued a $45.00 price target on shares of Ophthotech Corp. in a research note on Wednesday, August 10th. Zacks Investment Research raised shares of 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. Barclays PLC initiated coverage on shares of Ophthotech Corp. in a research note on Wednesday, April 27th. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Citigroup Inc. boosted their price target on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Ophthotech Corp. currently has an average rating of “Buy” and an average target price of $86.33.
The stock’s market capitalization is $2.00 billion. The company’s 50 day moving average price is $57.65 and its 200-day moving average price is $50.43.
Ophthotech Corp. (NASDAQ:OPHT) last issued its 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 company earned $28.20 million during the quarter, compared to analyst estimates of $18.64 million. Equities research analysts anticipate that Ophthotech Corp. will post ($5.03) earnings per share for the current fiscal year.
In other Ophthotech Corp. news, CFO Glenn Sblendorio sold 671 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $57.20, for a total value of $38,381.20. Following the completion of the sale, the chief financial officer now directly owns 1,750 shares of the company’s stock, valued at approximately $100,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Samir Chandrakant Patel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the sale, the president now directly owns 213,377 shares of the company’s stock, valued at $11,377,261.64. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.