ValuEngine lowered shares of Ophthotech (NASDAQ:OPHT) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Separately, Zacks Investment Research upgraded Ophthotech from a sell rating to a hold rating in a report on Tuesday. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Ophthotech has an average rating of Hold and an average target price of $3.50.

OPHT stock opened at $1.50 on Wednesday. The stock has a market cap of $60.66 million, a price-to-earnings ratio of 0.47 and a beta of 1.16. Ophthotech has a 1-year low of $1.42 and a 1-year high of $4.50.

Ophthotech (NASDAQ:OPHT) last posted its earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. On average, equities analysts predict that Ophthotech will post -1.55 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Ophthotech by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,802,833 shares of the biopharmaceutical company’s stock worth $4,254,000 after acquiring an additional 83,837 shares in the last quarter. Stonepine Capital Management LLC lifted its holdings in Ophthotech by 21.6% during the third quarter. Stonepine Capital Management LLC now owns 2,324,782 shares of the biopharmaceutical company’s stock worth $5,486,000 after acquiring an additional 412,764 shares in the last quarter. Bridgeway Capital Management Inc. lifted its holdings in Ophthotech by 93.1% during the third quarter. Bridgeway Capital Management Inc. now owns 217,400 shares of the biopharmaceutical company’s stock worth $513,000 after acquiring an additional 104,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ophthotech by 19.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 881,887 shares of the biopharmaceutical company’s stock worth $2,081,000 after acquiring an additional 141,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ophthotech by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 958,137 shares of the biopharmaceutical company’s stock valued at $2,261,000 after purchasing an additional 91,041 shares in the last quarter. Hedge funds and other institutional investors own 47.02% of the company’s stock.

Ophthotech Company Profile

Ophthotech Corporation, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, for dry and wet forms of age-related macular degeneration, a disorder of the central portion of the retina known as the macula.

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