Could Ophthotech Corp Lose Strenght? Option Traders Don’t Think So

 Could Ophthotech Corp Lose Strenght? Option Traders Don't Think So

In today’s session Ophthotech Corp (OPHT) registered an unusually high (349) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious OPHT increase. With 349 contracts traded and 19224 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: OPHT161216C00070000 closed last at: $8.2 or 13.9% up. The stock increased 0.87% or $0.38 during the last trading session, hitting $43.95. About 1.71M shares traded hands or 118.85% up from the average. Ophthotech Corp (NASDAQ:OPHT) has declined 6.80% since March 1, 2016 and is downtrending. It has underperformed by 16.04% the S&P500.

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. $200 is the highest target while $45 is the lowest. The $97.33 average target is 121.46% above today’s ($43.95) stock price. Ophthotech Corporation has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by Citigroup on Thursday, September 3 with “Buy”. Suntrust Robinson initiated the stock with “Buy” rating in Friday, January 8 report. JP Morgan upgraded it to “Overweight” rating and $84 target price in Thursday, June 2 report. Citigroup maintained Ophthotech Corp (NASDAQ:OPHT) on Thursday, August 4 with “Buy” rating. Barclays Capital initiated it with “Overweight” rating and $85 target price in Wednesday, April 27 report. The firm has “Buy” rating given on Monday, December 14 by Chardan Capital Markets. Oppenheimer reinitiated it with “Outperform” rating and $95.0 target price in Friday, August 14 report. As per Tuesday, August 4, the company rating was maintained by Chardan Capital Markets. The rating was downgraded by Goldman Sachs to “Sell” on Friday, August 7. The stock has “Buy” rating given by SunTrust on Thursday, January 7.

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.
Ghost Tree Ltd Liability last reported 3.17% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 599 shares in the company. Teachers Advisors Inc, a New York-based fund reported 48,671 shares. Regents Of The University Of California owns 16,110 shares or 2.76% of their US portfolio. The New York-based Tiaa Cref Investment Mgmt Ltd has invested 0.01% in Ophthotech Corp (NASDAQ:OPHT). Franklin Res owns 805,929 shares or 0.02% of their US portfolio. Pier Cap Llc holds 1.03% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 110,679 shares. Principal Fincl Gru Inc has 0% invested in the company for 5,366 shares. Wellington Mgmt Gp Llp holds 0% or 336,066 shares in its portfolio. D E Shaw has 0% invested in the company for 16,296 shares. Fincl Architects holds 543 shares or 0.01% of its portfolio. Broadfin Ltd Co reported 177,400 shares or 0.88% of all its holdings. Royal Financial Bank Of Canada owns 22,176 shares or 0% of their US portfolio. Gam Ag reported 63,000 shares or 0.05% of all its holdings. Sectoral Asset Management accumulated 0.77% or 146,800 shares.

Insider Transactions: Since April 29, 2016, the stock had 1 buying transaction, and 12 sales for $76.70 million net activity. 3,500 Ophthotech Corp (NASDAQ:OPHT) shares with value of $199,395 were bought by Bolte Axel. Shares for $935,875 were sold by PATEL SAMIR CHANDRAKANT on Friday, April 29. Novo A/S also sold $63.70M worth of Ophthotech Corp (NASDAQ:OPHT) on Tuesday, May 24. GUYER DAVID R sold 30,060 shares worth $1.58 million. $38,381 worth of Ophthotech Corp (NASDAQ:OPHT) shares were sold by SBLENDORIO GLENN.

Ophthotech Corporation is a biopharmaceutical company. The company has a market cap of $1.48 billion. 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 . It currently has negative earnings. The Company’s advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs.

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