The stock of Ophthotech Corp (NASDAQ:OPHT) is a huge mover today! About 638,477 shares traded hands. Ophthotech Corp (NASDAQ:OPHT) has declined 6.80% since March 1, 2016 and is downtrending. It has underperformed by 16.04% the S&P500.
The move comes after 8 months positive chart setup for the $1.54B company. It was reported on Oct, 4 by Barchart.com. We have $72.14 PT which if reached, will make NASDAQ:OPHT worth $877.80M more.
Analysts await Ophthotech Corp (NASDAQ:OPHT) to report earnings on November, 3. They expect $-1.59 earnings per share, down 39.47% or $0.45 from last year’s $-1.14 per share. After $-0.85 actual earnings per share 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. $200 is the highest target while $45 is the lowest. The $97.33 average target is 111.82% above today’s ($45.95) stock price. Ophthotech Corporation has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Tuesday, August 4, the company rating was maintained by Chardan Capital Markets. Stifel Nicolaus maintained Ophthotech Corp (NASDAQ:OPHT) rating on Thursday, August 6. Stifel Nicolaus has “Buy” rating and $83 price target. The rating was reinitiated by Oppenheimer on Friday, August 14 with “Outperform”. The rating was downgraded by Goldman Sachs on Friday, August 7 to “Sell”. The firm earned “Buy” rating on Tuesday, September 8 by Chardan Capital Markets. The firm has “Buy” rating given on Monday, December 14 by Chardan Capital Markets. The company was initiated on Thursday, January 7 by SunTrust. The stock has “Buy” rating given by Citigroup on Thursday, September 3. The firm earned “Buy” rating on Friday, January 8 by Suntrust Robinson. The rating was initiated by Barclays Capital with “Overweight” on Wednesday, April 27.
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 Q2 2016. Its up 0.45, from 1.5 in 2016Q1. The ratio improved, 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.
Janus Mgmt Limited Liability, a Colorado-based fund reported 425,366 shares. Pura Vida Invs Ltd Liability Corp has 52,500 shares for 1.14% of their US portfolio. Moreover, Checchi Advisers Limited has 0% invested in Ophthotech Corp (NASDAQ:OPHT) for 7 shares. Cannell Peter B has 0.24% invested in the company for 127,700 shares. Kcg Hldg has invested 0.01% of its portfolio in Ophthotech Corp (NASDAQ:OPHT). The Maryland-based Proshare Advsr Limited Liability Com has invested 0.02% in Ophthotech Corp (NASDAQ:OPHT). Principal Financial Inc, a Iowa-based fund reported 5,366 shares. Spot Trading Lc reported 3,000 shares or 0% of all its holdings. Blackrock Japan Ltd last reported 571 shares in the company. Overbrook Mgmt Corp, a New York-based fund reported 75,652 shares. Ameriprise Fincl Incorporated, a Minnesota-based fund reported 30,192 shares. Silvercrest Asset Mngmt Gp Limited Com owns 12,000 shares or 0.01% of their US portfolio. Us Fincl Bank De accumulated 65,935 shares or 0.01% of the stock. Royal National Bank Of Canada has 0% invested in the company for 22,176 shares. Blackrock Advisors Limited Liability Corp last reported 53,455 shares in the company.
Insider Transactions: Since April 29, 2016, the stock had 1 buy, and 12 insider sales for $76.70 million net activity. On Friday, July 29 the insider PATEL SAMIR CHANDRAKANT sold $1.28M. On Wednesday, June 1 GUYER DAVID R sold $1.58M worth of the stock or 30,060 shares. The insider Bolte Axel bought $199,395. SBLENDORIO GLENN had sold 671 shares worth $38,381 on Wednesday, June 1. Novo A/S sold $63.70M worth of Ophthotech Corp (NASDAQ:OPHT) on Tuesday, May 24.
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 Seekingalpha.com with their article: “Ophthotech: A Buying Opportunity?” published on October 03, 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 Corp. Shares Soared 14.9% in May” published on June 09, 2016 as well as Fool.com‘s news article titled: “Why Ophthotech Corporation Shares Tumbled 31% in January” with publication date: February 06, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.