Ophthotech Corporation (NASDAQ:OPHT) Expected to Earn FY2017 Earnings of $2.65 Per Share

Ophthotech Corporation (NASDAQ:OPHT) – Stock analysts at Gabelli issued their FY2017 earnings estimates for Ophthotech Corporation in a research note issued to investors on Thursday. Gabelli analyst K. Kedra anticipates that the biopharmaceutical company will post earnings of $2.65 per share for the year. Gabelli also issued estimates for Ophthotech Corporation’s FY2019 earnings at ($1.30) EPS.

Separately, Zacks Investment Research upgraded Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Tuesday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Ophthotech Corporation currently has a consensus rating of “Hold” and an average target price of $53.53.

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Shares of Ophthotech Corporation (OPHT) opened at 2.39 on Monday. Ophthotech Corporation has a 52 week low of $2.24 and a 52 week high of $64.25. The company’s market capitalization is $85.69 million. The firm has a 50 day moving average price of $2.66 and a 200 day moving average price of $3.26.

Ophthotech Corporation (NASDAQ:OPHT) last issued its earnings results 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 firm had revenue of $1.66 million during the quarter, compared to the consensus estimate of $1.38 million. The business’s quarterly revenue was down 94.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.85) earnings per share.

A number of institutional investors have recently added to or reduced their stakes in OPHT. Teachers Advisors LLC increased its position in 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 period. Geode Capital Management LLC increased its position in 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 period. Vanguard Group Inc. increased its position in 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 period. SG Americas Securities LLC increased its position in 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 period. Finally, JPMorgan Chase & Co. increased its position in 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 period. Institutional investors own 72.14% of the company’s stock.

In other news, Chairman David R. Guyer sold 17,678 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total value of $45,609.24. Following the transaction, the chairman now directly owns 37,692 shares in the company, valued at approximately $97,245.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 34,609 shares of company stock worth $89,249. Company insiders own 2.00% of the company’s stock.

Ophthotech Corporation Company Profile

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.

Earnings History and Estimates for Ophthotech Corporation (NASDAQ:OPHT)

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