Ophthotech Corp (OPHT) Receives $8.31 Consensus Price Target from Analysts

Shares of Ophthotech Corp (NASDAQ:OPHT) have received an average rating of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Twelve investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.31.

A number of brokerages have recently weighed in on OPHT. TheStreet raised shares of Ophthotech from an “e+” rating to a “c” rating in a research report on Thursday. ValuEngine raised shares of Ophthotech from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and set a $4.00 price target on shares of Ophthotech in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised shares of Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price target on the stock in a research report on Monday, November 13th.

Several institutional investors have recently added to or reduced their stakes in OPHT. Creative Planning increased its stake in shares of Ophthotech by 4,867.3% during the 2nd quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 45,996 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Ophthotech by 102.3% during the 2nd quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 28,040 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Ophthotech during the 2nd quarter worth about $269,000. Schwab Charles Investment Management Inc. increased its stake in shares of Ophthotech by 73.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 118,166 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 49,928 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Ophthotech by 97.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 260,600 shares of the biopharmaceutical company’s stock valued at $667,000 after buying an additional 128,900 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Shares of Ophthotech (NASDAQ OPHT) traded up $0.06 during midday trading on Friday, hitting $3.20. 665,000 shares of the stock were exchanged, compared to its average volume of 867,109. The company has a market capitalization of $115.32, a PE ratio of 2.04 and a beta of 1.58. Ophthotech has a 52 week low of $2.24 and a 52 week high of $40.34.

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About Ophthotech

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 (NASDAQ:OPHT)

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