Stifel Nicolaus reissued their hold rating on shares of Ophthotech Corporation (NASDAQ:OPHT) in a research report released on Thursday. The firm currently has a $4.00 price target on the biopharmaceutical company’s stock.
Shares of Ophthotech Corporation (OPHT) traded up 0.37% on Thursday, reaching $2.70. 232,915 shares of the company were exchanged. The stock’s market capitalization is $97.04 million. The firm’s 50 day moving average price is $2.73 and its 200 day moving average price is $2.83. Ophthotech Corporation has a 52 week low of $2.24 and a 52 week high of $59.46.
Ophthotech Corporation (NASDAQ:OPHT) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.45. The company had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $1.38 million. The firm’s revenue for the quarter was down 94.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.85) EPS. Equities research analysts anticipate that Ophthotech Corporation will post $0.29 EPS for the current year.
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In other Ophthotech Corporation news, Chairman David R. Guyer sold 17,678 shares of Ophthotech Corporation stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $2.58, for a total transaction of $45,609.24. Following the completion of the sale, the chairman now directly owns 37,692 shares in the company, valued at approximately $97,245.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 33,909 shares of company stock valued at $87,485. Company insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in OPHT. Teachers Advisors LLC lifted its stake in Ophthotech Corporation by 6.1% during the 4th quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock valued at $252,000 after acquiring an additional 2,999 shares during the period. Canada Pension Plan Investment Board lifted its stake in Ophthotech Corporation by 397.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 131,700 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 105,200 shares during the period. Oxford Asset Management lifted its stake in Ophthotech Corporation by 827.1% during the 1st quarter. Oxford Asset Management now owns 364,901 shares of the biopharmaceutical company’s stock valued at $1,336,000 after acquiring an additional 325,540 shares during the period. JPMorgan Chase & Co. lifted its stake in Ophthotech Corporation by 21.7% during the 1st quarter. JPMorgan Chase & Co. now owns 140,040 shares of the biopharmaceutical company’s stock valued at $513,000 after acquiring an additional 24,986 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Ophthotech Corporation by 67.7% during the 1st quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock valued at $186,000 after acquiring an additional 20,537 shares during the period. Institutional investors and hedge funds own 61.40% 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.
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