Ophthotech Corp. (OPHT) Stock Price Down 2.9%
Ophthotech Corp. (NASDAQ:OPHT) shares were down 2.9% during trading on Friday . The company traded as low as $51.36 and last traded at $51.45, with a volume of 225,190 shares trading hands. The stock had previously closed at $52.97.
A number of research analysts have commented on OPHT shares. Zacks Investment Research upgraded shares of Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, May 10th. JPMorgan Chase & Co. upgraded shares of Ophthotech Corp. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $60.00 to $84.00 in a research report on Thursday, June 2nd. Barclays PLC reiterated a “buy” rating on shares of Ophthotech Corp. in a research report on Tuesday, July 19th. Citigroup Inc. increased their price target on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. reiterated a “sell” rating and set a $45.00 price target on shares of Ophthotech Corp. in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $86.33.
The stock’s market cap is $1.83 billion. The stock has a 50-day moving average of $57.43 and a 200 day moving average of $50.68.
Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.20. The company had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $18.64 million. On average, equities analysts forecast that Ophthotech Corp. will post ($4.89) EPS for the current fiscal year.
In related news, CEO David R. Guyer sold 24,060 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $64.47, for a total value of $1,551,148.20. Following the transaction, the chief executive officer now directly owns 56,451 shares of the company’s stock, valued at approximately $3,639,395.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $52.80, for a total value of $1,056,000.00. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Ophthotech Corp. stock. Ameriprise Financial Inc. bought a new stake in shares of Ophthotech Corp. (NASDAQ:OPHT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,763 shares of the biopharmaceutical company’s stock, valued at approximately $2,181,000. Ameriprise Financial Inc. owned approximately 0.08% of Ophthotech Corp. at the end of the most recent reporting period.
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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