Zacks: Analysts Anticipate Ophthotech Corp (OPHT) Will Announce Earnings of -$0.43 Per Share

Wall Street brokerages expect that Ophthotech Corp (NASDAQ:OPHT) will post earnings per share (EPS) of ($0.43) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ophthotech’s earnings. Ophthotech posted earnings of $5.25 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 108.2%. The business is expected to issue its next quarterly earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Ophthotech will report full year earnings of ($1.57) per share for the current fiscal year, with EPS estimates ranging from ($1.63) to ($1.50). For the next year, analysts anticipate that the business will report earnings of ($1.19) per share, with EPS estimates ranging from ($1.20) to ($1.17). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Ophthotech.

Ophthotech (NASDAQ:OPHT) last announced its quarterly earnings data on Wednesday, August 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.02.

Several analysts have issued reports on the stock. ValuEngine downgraded shares of Ophthotech from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Chardan Capital reaffirmed a “hold” rating and set a $4.00 target price on shares of Ophthotech in a research report on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of Ophthotech from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.67.

Shares of NASDAQ OPHT opened at $2.36 on Tuesday. The stock has a market capitalization of $88.32 million, a price-to-earnings ratio of 0.74 and a beta of 1.31. Ophthotech has a 1 year low of $2.25 and a 1 year high of $4.50.

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Ophthotech by 182.2% during the fourth quarter. Wells Fargo & Company MN now owns 33,160 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 21,411 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Ophthotech during the second quarter worth approximately $100,000. Macquarie Group Ltd. increased its position in shares of Ophthotech by 159.3% during the fourth quarter. Macquarie Group Ltd. now owns 38,900 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 23,900 shares during the period. Northern Trust Corp increased its position in shares of Ophthotech by 40.2% during the first quarter. Northern Trust Corp now owns 74,452 shares of the biopharmaceutical company’s stock worth $204,000 after acquiring an additional 21,330 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of Ophthotech during the fourth quarter worth approximately $367,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Ophthotech Company Profile

Ophthotech Corporation, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, for dry and wet forms of age-related macular degeneration, a disorder of the central portion of the retina known as the macula.

Featured Article: Price to Earnings Ratio (PE) Basics

Get a free copy of the Zacks research report on Ophthotech (OPHT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ophthotech (NASDAQ:OPHT)

Receive News & Ratings for Ophthotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ophthotech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply