Stock Worth Mentioning Today: What’s Propelling Ophthotech Corp to Decline So Much?

Stock Worth Mentioning Today: What's Propelling Ophthotech Corp to Decline So Much?

The stock of Ophthotech Corp (NASDAQ:OPHT) is a huge mover today! About 594,964 shares traded hands. Ophthotech Corp (NASDAQ:OPHT) has risen 1.48% since March 9, 2016 and is uptrending. It has underperformed by 5.93% the S&P500.
The move comes after 6 months negative chart setup for the $1.40 billion company. It was reported on Oct, 12 by Barchart.com. We have $38.52 PT which if reached, will make NASDAQ:OPHT worth $84.00M 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. Citigroup maintained the stock with “Buy” rating in Thursday, August 4 report. Chardan Capital Markets maintained Ophthotech Corp (NASDAQ:OPHT) rating on Tuesday, August 4. Chardan Capital Markets has “Buy” rating and $105 price target. Oppenheimer reinitiated it with “Outperform” rating and $95.0 target price in Friday, August 14 report. The stock has “Buy” rating given by Chardan Capital Markets on Monday, December 14. The stock of Ophthotech Corp (NASDAQ:OPHT) has “Buy” rating given on Thursday, January 7 by SunTrust. The rating was initiated by Suntrust Robinson on Friday, January 8 with “Buy”. The stock of Ophthotech Corp (NASDAQ:OPHT) has “Buy” rating given on Tuesday, September 8 by Chardan Capital Markets. The stock has “Overweight” rating given by Barclays Capital on Wednesday, April 27. Goldman Sachs downgraded the shares of OPHT in a report on Friday, August 7 to “Sell” rating. The rating was upgraded by JP Morgan to “Overweight” 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 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.
Parallax Volatility Advisers Limited Partnership last reported 6,437 shares in the company. Perceptive Advisors Limited Liability last reported 8,145 shares in the company. Morgan Stanley, a New York-based fund reported 859,561 shares. Quantitative Systematic Strategies Limited Liability Company accumulated 19,051 shares or 0.46% of the stock. Blackrock Japan Ltd last reported 0% of its portfolio in the stock. Princeton Capital Management accumulated 0.65% or 18,452 shares. Strs Ohio holds 0% or 11,500 shares in its portfolio. Alliancebernstein Ltd Partnership holds 0% or 48,240 shares in its portfolio. Cornerstone, a Washington-based fund reported 380 shares. Finemark Natl Bank And Tru last reported 146 shares in the company. The New York-based Pura Vida Limited Com has invested 1.14% in Ophthotech Corp (NASDAQ:OPHT). Barclays Plc, a United Kingdom-based fund reported 27,195 shares. Loomis Sayles & L P holds 290,108 shares or 0.04% of its portfolio. Fmr Ltd Liability Com accumulated 3.70M shares or 0.03% of the stock. Invesco Ltd has 80,277 shares for 0% of their US portfolio.

Insider Transactions: Since April 29, 2016, the stock had 1 insider buy, and 14 selling transactions for $78.78 million net activity. 24,060 shares were sold by GUYER DAVID R, worth $1.27 million on Thursday, September 1. Shares for $199,395 were bought by Bolte Axel. Another trade for 20,000 shares valued at $1.07 million was sold by PATEL SAMIR CHANDRAKANT. Shares for $63.70 million were sold by Novo A/S. $38,381 worth of Ophthotech Corp (NASDAQ:OPHT) was sold by SBLENDORIO GLENN.

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: Seekingalpha.com and their article: “Revisiting The Investment Case On Ophthotech” published on October 10, 2016 as well as Seekingalpha.com‘s news article titled: “Ophthotech: A Buying Opportunity?” with publication date: October 03, 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.

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