The stock of Ophthotech Corp (NASDAQ:OPHT) is a huge mover today! About 1.24M shares traded hands or 31.00% up from the average. Ophthotech Corp (NASDAQ:OPHT) has declined 25.66% since March 29, 2016 and is downtrending. It has underperformed by 29.13% the S&P500.
The move comes after 8 months positive chart setup for the $1.26 billion company. It was reported on Oct, 31 by Barchart.com. We have $57.78 PT which if reached, will make NASDAQ:OPHT worth $793.80M 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. Ophthotech Corporation has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Citigroup initiated Ophthotech Corp (NASDAQ:OPHT) on Thursday, September 3 with “Buy” rating. The firm has “Overweight” rating given on Thursday, June 2 by JP Morgan. The stock has “Buy” rating given by SunTrust on Thursday, January 7. The stock of Ophthotech Corp (NASDAQ:OPHT) has “Sell” rating given on Friday, August 7 by Goldman Sachs. Barclays Capital initiated the stock with “Overweight” rating in Wednesday, April 27 report. As per Friday, August 14, the company rating was reinitiated by Oppenheimer. The rating was initiated by Suntrust Robinson with “Buy” on Friday, January 8. The firm has “Buy” rating given on Tuesday, August 4 by Chardan Capital Markets. On Thursday, August 6 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of Ophthotech Corp (NASDAQ:OPHT) earned “Buy” rating by Citigroup on Thursday, August 4.
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.
Allianz Asset Ag holds 0.01% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 356,267 shares. Neuberger Berman Group Lc holds 0% or 20,000 shares in its portfolio. Geode Cap Mgmt Limited Liability last reported 224,462 shares in the company. Fiera holds 742,500 shares or 0.21% of its portfolio. Bnp Paribas Arbitrage Sa reported 1,208 shares or 0% of all its holdings. Blackrock Group has invested 0% of its portfolio in Ophthotech Corp (NASDAQ:OPHT). Moreover, Nationwide Fund has 0.01% invested in Ophthotech Corp (NASDAQ:OPHT) for 64,148 shares. Dupont holds 15,435 shares or 0.02% of its portfolio. Teacher Retirement Of Texas reported 3,582 shares or 0% of all its holdings. Td Asset Mgmt last reported 43,500 shares in the company. Blackrock, a New York-based fund reported 3,965 shares. Swiss Commercial Bank owns 42,088 shares or 0% of their US portfolio. Senator Invest Group Limited Partnership holds 0.29% or 350,500 shares in its portfolio. Prudential last reported 0% of its portfolio in the stock. Weiss Multi last reported 0.04% of its portfolio in the stock.
Insider Transactions: Since May 2, 2016, the stock had 1 buying transaction, and 12 insider sales for $76.83 million net activity. The insider GUYER DAVID R sold $1.27M. PATEL SAMIR CHANDRAKANT sold 41,846 shares worth $2.14 million. SBLENDORIO GLENN sold $38,381 worth of Ophthotech Corp (NASDAQ:OPHT) on Wednesday, June 1. Novo A/S sold 1.30 million shares worth $63.70M. $199,395 worth of Ophthotech Corp (NASDAQ:OPHT) was bought by Bolte Axel on Friday, June 3.
More notable recent Ophthotech Corp (NASDAQ:OPHT) news were published by: Streetinsider.com which released: “Ophthotech Corp (OPHT) Announces Publication of Strong Fovista Phase 2b Data …” on October 31, 2016, also Fool.com with their article: “Here’s Why Ophthotech Corporation Is Dropping Today” published on September 30, 2016, Fool.com published: “Why Ophthotech Corp. Shares Soared 14.9% in May” on June 09, 2016. More interesting news about Ophthotech Corp (NASDAQ:OPHT) were released by: Benzinga.com and their article: “The Street Is Getting The Ophthotech Story All Wrong” published on October 29, 2016 as well as Fool.com‘s news article titled: “Why Ophthotech Corp. Plunged 42% in March” with publication date: April 07, 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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