Stifel Nicolaus reiterated their hold rating on shares of Ophthotech Corporation (NASDAQ:OPHT) in a report published on Thursday. They currently have a $4.00 price target on the biopharmaceutical company’s stock.

Shares of Ophthotech Corporation (NASDAQ OPHT) opened at 2.69 on Thursday. The firm has a 50-day moving average of $2.73 and a 200-day moving average of $2.83. The company’s market capitalization is $96.68 million. Ophthotech Corporation has a one year low of $2.24 and a one year high of $59.46.

Ophthotech Corporation (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $1.38 million. The business’s revenue for the quarter was down 94.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.85) earnings per share. Analysts forecast that Ophthotech Corporation will post $0.29 earnings per share for the current year.

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In other news, Chairman David R. Guyer sold 17,678 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $2.58, for a total value of $45,609.24. Following the completion of the sale, the chairman now directly owns 37,692 shares in the company, valued at $97,245.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 33,909 shares of company stock worth $87,485. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Ophthotech Corporation by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 2,999 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ophthotech Corporation by 3.2% in the first quarter. Geode Capital Management LLC now owns 240,571 shares of the biopharmaceutical company’s stock valued at $880,000 after buying an additional 7,501 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ophthotech Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock valued at $10,298,000 after buying an additional 14,766 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Ophthotech Corporation by 67.7% in the first quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 20,537 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Ophthotech Corporation by 21.7% in the first quarter. JPMorgan Chase & Co. now owns 140,040 shares of the biopharmaceutical company’s stock valued at $513,000 after buying an additional 24,986 shares during the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

About Ophthotech Corporation

Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.

Analyst Recommendations for Ophthotech Corporation (NASDAQ:OPHT)

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