The stock of Ophthotech Corp (NASDAQ:OPHT) is a huge mover today! The stock decreased 14.76% or $7.99 during the last trading session, hitting $46.13. About 5.44M shares traded hands or 909.86% up from the average. Ophthotech Corp (NASDAQ:OPHT) has risen 15.86% since February 26, 2016 and is uptrending. It has outperformed by 5.44% the S&P500.
The move comes after 8 months negative chart setup for the $1.55B company. It was reported on Oct, 1 by Barchart.com. We have $42.44 PT which if reached, will make NASDAQ:OPHT worth $124.00M less.
Analysts await Ophthotech Corp (NASDAQ:OPHT) to report earnings on November, 3. They expect $-1.59 EPS, down 39.47% or $0.45 from last year’s $-1.14 per share. After $-0.85 actual EPS reported by Ophthotech Corp for the previous quarter, Wall Street now forecasts 87.06% negative EPS growth.
Ophthotech Corp (NASDAQ:OPHT) Ratings Coverage
Out of 10 analysts covering Ophthotech Corporation (NASDAQ:OPHT), 9 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 90% are positive. Ophthotech Corporation has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by Suntrust Robinson with “Buy” on Friday, January 8. The rating was maintained by Chardan Capital Markets on Tuesday, August 4 with “Buy”. The rating was reinitiated by Oppenheimer with “Outperform” on Friday, August 14. The company was maintained on Tuesday, September 8 by Chardan Capital Markets. Citigroup maintained Ophthotech Corp (NASDAQ:OPHT) rating on Thursday, August 4. Citigroup has “Buy” rating and $92 price target. Goldman Sachs downgraded it to “Sell” rating and $45 target price in Friday, August 7 report. Stifel Nicolaus maintained the shares of OPHT in a report on Thursday, August 6 with “Buy” rating. Barclays Capital initiated the shares of OPHT in a report on Wednesday, April 27 with “Overweight” rating. SunTrust initiated the stock with “Buy” rating in Thursday, January 7 report. The stock of Ophthotech Corp (NASDAQ:OPHT) earned “Overweight” rating by JP Morgan on Thursday, June 2.
According to Zacks Investment Research, “Ophthotech Corporation is a biopharmaceutical company. It is focused on developing and commercializing novel therapies for the treatment of diseases of the eye. The Company is developing Fovista and ARC1905, which are under clinical trials, for the treatment of wet AMD. Ophthotech Corporation is headquartered in New York.”
Insitutional Activity: The institutional sentiment increased to 1.95 in 2016 Q2. Its up 0.45, from 1.5 in 2016Q1. The ratio is positive, as 21 funds sold all Ophthotech Corp shares owned while 34 reduced positions. 38 funds bought stakes while 69 increased positions. They now own 41.31 million shares or 29.52% more from 31.90 million shares in 2016Q1.
The New York-based Gilder Gagnon Howe And Limited Liability Corporation has invested 0% in Ophthotech Corp (NASDAQ:OPHT). Dai Ichi Life Ins Company owns 21,671 shares or 0.03% of their US portfolio. Granite Point Cap Management Limited Partnership last reported 0.33% of its portfolio in the stock. Principal Fin Gru accumulated 5,366 shares or 0% of the stock. Creative Planning owns 5,527 shares or 0% of their US portfolio. California State Teachers Retirement Sys last reported 0.01% of its portfolio in the stock. Pioneer Mngmt accumulated 0.01% or 63,987 shares. Teacher Retirement System Of Texas last reported 3,582 shares in the company. Artal Group Sa has 0.05% invested in the company for 50,000 shares. Broadfin Cap Limited Liability holds 0.88% or 177,400 shares in its portfolio. Wellington Management Group Ltd Liability Partnership holds 0% or 336,066 shares in its portfolio. Dekabank Deutsche Girozentrale has 56,150 shares for 0.03% of their US portfolio. State Street Corporation has 861,547 shares for 0% of their US portfolio. Lord Abbett And Co Lc accumulated 0.01% or 46,672 shares. Moreover, Employees Retirement Association Of Colorado has 0% invested in Ophthotech Corp (NASDAQ:OPHT) for 5,054 shares.
Insider Transactions: Since April 1, 2016, the stock had 1 buying transaction, and 12 sales for $76.70 million net activity. GUYER DAVID R also sold $1.02 million worth of Ophthotech Corp (NASDAQ:OPHT) shares. On Friday, April 29 PATEL SAMIR CHANDRAKANT sold $935,875 worth of the stock or 20,000 shares. $38,381 worth of Ophthotech Corp (NASDAQ:OPHT) shares were sold by SBLENDORIO GLENN. 3,500 Ophthotech Corp (NASDAQ:OPHT) shares with value of $199,395 were bought by Bolte Axel. Novo A/S sold 1.30M shares worth $63.70M.
More notable recent Ophthotech Corp (NASDAQ:OPHT) news were published by: Fool.com which released: “Here’s Why Ophthotech Corporation Is Dropping Today” on September 30, 2016, also Fool.com with their article: “Why Ophthotech Corp. Shares Soared 14.9% in May” published on June 09, 2016, Fool.com published: “Why Ophthotech Corp. Plunged 42% in March” on April 07, 2016. More interesting news about Ophthotech Corp (NASDAQ:OPHT) were released by: Fool.com and their article: “Why Ophthotech Corporation Shares Tumbled 31% in January” published on February 06, 2016 as well as Fool.com‘s news article titled: “Why Ophthotech Corporation Shares Soared Higher Last Month” with publication date: December 04, 2015.
OPHT Company Profile
Ophthotech Corporation, incorporated on January 5, 2007, is a biopharmaceutical company. The Firm specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). The Company’s advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs. It is also developing its product candidate Zimura for the treatment of patients with geographic atrophy, a form of dry AMD, in combination with VEGF therapy for the treatment of polypoidal choroidal vasculopathy (PCV), a specific type of wet AMD. It is also investigating the potential of an ophthalmic formulation for tivozanib, a molecule VEGF tyrosine kinase inhibitor, for which the Company has an option for a license.
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