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.
WARNING: This report was published by BNB Daily and is owned by of BNB Daily. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/ophthotech-corporation-opht-receives-9-75-consensus-target-price-from-brokerages-updated-updated.html.
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.
Receive News & Ratings for Ophthotech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ophthotech Corporation and related companies with MarketBeat.com's FREE daily email newsletter.