Ophthotech Corp. (OPHT) Stock Rating Reaffirmed by BTIG Research

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Ophthotech Corp. (NASDAQ:OPHT)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research report issued on Tuesday. They currently have a $92.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price would indicate a potential upside of 57.72% from the stock’s current price.
Several other research firms have also recently weighed in on OPHT. Zacks Investment Research upgraded Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. reiterated a “sell” rating and set a $45.00 price objective on shares of Ophthotech Corp. in a research report on Wednesday, August 10th. Citigroup Inc. increased their price objective on Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. upgraded Ophthotech Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $84.00 in a research report on Thursday, June 2nd. Finally, Barclays PLC reiterated a “buy” rating on shares of Ophthotech Corp. in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Ophthotech Corp. currently has an average rating of “Buy” and an average target price of $87.56.
Shares of Ophthotech Corp. (NASDAQ:OPHT) traded up 0.41% during midday trading on Tuesday, reaching $58.57. 154,231 shares of the company’s stock traded hands. The stock’s market cap is $2.08 billion. The stock has a 50 day moving average of $55.13 and a 200-day moving average of $51.36. Ophthotech Corp. has a 52-week low of $35.72 and a 52-week high of $80.00.

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Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.20. The firm had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $18.64 million. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. On average, equities research analysts expect that Ophthotech Corp. will post ($4.89) EPS for the current year.
In other Ophthotech Corp. news, President Samir Chandrakant Patel sold 20,000 shares of Ophthotech Corp. stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $52.80, for a total value of $1,056,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David R. Guyer sold 24,060 shares of Ophthotech Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $64.47, for a total value of $1,551,148.20. Following the completion of the transaction, the chief executive officer now owns 56,451 shares in the company, valued at approximately $3,639,395.97. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lebenthal Holdings LLC boosted its position in Ophthotech Corp. by 0.5% in the second quarter. Lebenthal Holdings LLC now owns 8,209 shares of the biopharmaceutical company’s stock worth $419,000 after buying an additional 43 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Ophthotech Corp. by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,832 shares of the biopharmaceutical company’s stock worth $859,000 after buying an additional 86 shares in the last quarter. US Bancorp DE boosted its position in Ophthotech Corp. by 0.3% in the second quarter. US Bancorp DE now owns 65,935 shares of the biopharmaceutical company’s stock worth $3,364,000 after buying an additional 188 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Ophthotech Corp. by 1.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,902 shares of the biopharmaceutical company’s stock worth $714,000 after buying an additional 224 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Ophthotech Corp. by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 3,582 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 93.73% of the company’s stock.
Ophthotech Corp. Company Profile
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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