Shares of Ophthotech Corp (NASDAQ:OPHT) have received a consensus rating of “Hold” from the four research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.00.
Several equities research analysts have recently issued reports on OPHT shares. Zacks Investment Research downgraded shares of Ophthotech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 7th. ValuEngine downgraded shares of Ophthotech from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, TheStreet downgraded shares of Ophthotech from a “c” rating to a “d+” rating in a research note on Friday, March 2nd.
Shares of Ophthotech (NASDAQ OPHT) traded up $0.03 during mid-day trading on Friday, reaching $3.03. The company’s stock had a trading volume of 99,877 shares, compared to its average volume of 341,584. Ophthotech has a one year low of $2.24 and a one year high of $3.80. The firm has a market capitalization of $108.09, a P/E ratio of 0.94 and a beta of 1.42.
In other news, CEO Glenn Sblendorio sold 8,089 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $3.19, for a total value of $25,803.91. Following the sale, the chief executive officer now owns 44,584 shares in the company, valued at $142,222.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David R. Guyer sold 16,520 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $3.19, for a total transaction of $52,698.80. Following the completion of the sale, the insider now owns 50,494 shares in the company, valued at approximately $161,075.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,971 shares of company stock worth $111,481. 2.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. lifted its position in Ophthotech by 159.3% in the fourth quarter. Macquarie Group Ltd. now owns 38,900 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 23,900 shares during the period. Millennium Management LLC lifted its holdings in shares of Ophthotech by 50.8% during the fourth quarter. Millennium Management LLC now owns 1,007,890 shares of the biopharmaceutical company’s stock valued at $3,145,000 after acquiring an additional 339,656 shares during the period. Two Sigma Investments LP bought a new position in shares of Ophthotech during the fourth quarter valued at $367,000. Armistice Capital LLC lifted its holdings in shares of Ophthotech by 2.6% during the fourth quarter. Armistice Capital LLC now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $10,764,000 after acquiring an additional 86,000 shares during the period. Finally, Spark Investment Management LLC lifted its holdings in shares of Ophthotech by 20.3% during the fourth quarter. Spark Investment Management LLC now owns 258,500 shares of the biopharmaceutical company’s stock valued at $806,000 after acquiring an additional 43,700 shares during the period. Institutional investors and hedge funds own 60.42% of the company’s stock.
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Ophthotech 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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