Ophthotech Corporation (OPHT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Ophthotech Corporation (NASDAQ:OPHT) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.

Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Ophthotech Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price objective on shares of Ophthotech Corporation in a research report on Thursday, September 21st.

Shares of Ophthotech Corporation (NASDAQ OPHT) traded up 2.37% on Thursday, reaching $2.59. 333,786 shares of the company traded hands. The stock’s market cap is $93.09 million. The stock has a 50 day moving average of $2.75 and a 200 day moving average of $2.74. Ophthotech Corporation has a 52-week low of $2.24 and a 52-week high of $42.23.

Ophthotech Corporation (NASDAQ:OPHT) last issued its quarterly earnings data 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 company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $1.38 million. Ophthotech Corporation’s revenue for the quarter was down 94.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.85) earnings per share. On average, analysts expect that Ophthotech Corporation will post ($0.24) earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its position in 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 acquiring an additional 2,999 shares during the period. Geode Capital Management LLC increased its position in Ophthotech Corporation by 3.2% during the first quarter. Geode Capital Management LLC now owns 240,571 shares of the biopharmaceutical company’s stock worth $880,000 after acquiring an additional 7,501 shares during the period. Vanguard Group Inc. increased its position in Ophthotech Corporation by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,813,720 shares of the biopharmaceutical company’s stock worth $10,298,000 after acquiring an additional 14,766 shares during the period. SG Americas Securities LLC increased its position in 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 acquiring an additional 20,537 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Ophthotech Corporation by 21.7% during the first quarter. JPMorgan Chase & Co. now owns 140,040 shares of the biopharmaceutical company’s stock worth $513,000 after acquiring an additional 24,986 shares during the period. 61.40% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Ophthotech Corporation (NASDAQ:OPHT)

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