Ophthotech Corp. (NASDAQ:OPHT)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research note issued on Monday. They presently have a $92.00 target price on the biopharmaceutical company’s stock. BTIG Research’s price target indicates a potential upside of 109.33% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Cowen and Company set a $60.00 price objective on shares of Ophthotech Corp. and gave the stock a “buy” rating in a research report on Saturday. Barclays PLC restated a “buy” rating on shares of Ophthotech Corp. in a research report on Tuesday, July 19th. Zacks Investment Research downgraded shares of Ophthotech Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Citigroup Inc. raised their price objective on shares of Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. restated a “sell” rating and set a $45.00 price objective on shares of Ophthotech Corp. in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $83.64.
Shares of Ophthotech Corp. (NASDAQ:OPHT) opened at 43.95 on Monday. The company’s 50-day moving average price is $53.77 and its 200-day moving average price is $52.25. The company’s market capitalization is $1.56 billion. Ophthotech Corp. has a 52-week low of $38.55 and a 52-week high of $80.00.
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, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. Ophthotech Corp. had a negative net margin of 271.28% and a negative return on equity of 296.63%. The business earned $28.20 million during the quarter, compared to the consensus estimate of $18.64 million. Equities research analysts forecast that Ophthotech Corp. will post ($4.89) EPS for the current fiscal year.
In other news, President Samir Chandrakant Patel sold 20,000 shares of Ophthotech Corp. stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $64.21, for a total value of $1,284,200.00. Following the completion of the sale, the president now directly owns 176,031 shares in the company, valued at $11,302,950.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David R. Guyer sold 24,060 shares of Ophthotech Corp. stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $64.47, for a total transaction of $1,551,148.20. Following the completion of the sale, the chief executive officer now owns 56,451 shares of the company’s stock, valued at $3,639,395.97. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp acquired a new stake in Ophthotech Corp. during the second quarter worth $37,890,000. Slate Path Capital LP acquired a new stake in Ophthotech Corp. during the first quarter worth $18,176,000. Janus Capital Management LLC acquired a new stake in Ophthotech Corp. during the second quarter worth $21,706,000. State Street Corp increased its stake in Ophthotech Corp. by 52.6% in the first quarter. State Street Corp now owns 1,078,837 shares of the biopharmaceutical company’s stock worth $45,601,000 after buying an additional 371,894 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in Ophthotech Corp. during the second quarter worth $17,886,000. Institutional investors own 93.48% of the company’s stock.
About Ophthotech Corp.
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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