Ophthotech Corporation (OPHT) Given Average Rating of “Hold” by Analysts

Ophthotech Corporation (NASDAQ:OPHT) has been given an average rating of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.75.

Separately, Zacks Investment Research raised Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Tuesday, May 2nd.

Shares of Ophthotech Corporation (NASDAQ OPHT) traded down 1.17% during trading on Friday, hitting $2.53. 398,766 shares of the stock traded hands. Ophthotech Corporation has a 52 week low of $2.24 and a 52 week high of $59.99. The company has a 50-day moving average of $2.63 and a 200-day moving average of $3.17. The firm’s market cap is $90.93 million.

Ophthotech Corporation (NASDAQ:OPHT) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.45. The firm had revenue of $1.66 million for the quarter, compared to analyst estimates of $1.38 million. During the same period in the previous year, the company earned ($0.85) earnings per share. Ophthotech Corporation’s revenue for the quarter was down 94.1% compared to the same quarter last year. On average, analysts forecast that Ophthotech Corporation will post $0.29 EPS for the current fiscal year.

In other news, Chairman David R. Guyer sold 17,678 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total transaction of $45,609.24. Following the completion of the transaction, the chairman now owns 37,692 shares in the company, valued at approximately $97,245.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 34,609 shares of company stock valued at $89,249 in the last quarter. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of OPHT. Creative Planning increased its position in shares of Ophthotech Corporation by 4,867.3% in the second quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 45,996 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Ophthotech Corporation by 102.3% in the second quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 28,040 shares in the last quarter. SG Americas Securities LLC increased 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 in the last quarter. Teachers Advisors LLC increased 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 in the last quarter. Finally, LMR Partners LLP bought a new position in shares of Ophthotech Corporation during the second quarter valued at approximately $269,000. Institutional investors and hedge funds own 72.52% of the company’s stock.

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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.

Analyst Recommendations for Ophthotech Corporation (NASDAQ:OPHT)

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