Ophthotech Corporation (OPHT) Stock Rating Upgraded by ValuEngine
ValuEngine upgraded shares of Ophthotech Corporation (NASDAQ:OPHT) from a hold rating to a buy rating in a research note released on Monday, October 2nd.
Separately, Stifel Nicolaus reiterated a hold rating and set a $4.00 price target on shares of Ophthotech Corporation in a report on Thursday, September 21st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ophthotech Corporation currently has an average rating of Hold and a consensus target price of $47.33.
Ophthotech Corporation (NASDAQ OPHT) traded up 1.54% on Monday, hitting $2.63. 463,354 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $2.73 and its 200-day moving average price is $2.73. The company’s market cap is $94.53 million. Ophthotech Corporation has a 12-month low of $2.24 and a 12-month high of $40.34.
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, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The business had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $1.38 million. During the same period last year, the firm earned ($0.85) EPS. The company’s revenue was down 94.1% compared to the same quarter last year. Analysts forecast that Ophthotech Corporation will post ($0.24) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in shares of Ophthotech Corporation by 4,867.3% during the second quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 45,996 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Ophthotech Corporation by 102.3% during the second quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 28,040 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ophthotech Corporation by 67.7% during the first quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock worth $186,000 after buying an additional 20,537 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Ophthotech Corporation by 6.1% during the fourth quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 2,999 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Ophthotech Corporation during the second quarter worth approximately $269,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.
About Ophthotech Corporation
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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