The stock of Ophthotech Corp (NASDAQ:OPHT) hit a new 52-week low and has $29.18 target or 7.00% below today’s $31.38 share price. The 7 months bearish chart indicates high risk for the $1.09 billion company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $29.18 price target is reached, the company will be worth $76.30M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 655,607 shares traded hands. Ophthotech Corp (NASDAQ:OPHT) has declined 23.34% since April 1, 2016 and is downtrending. It has underperformed by 24.55% the S&P500.
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 210.17% above today’s ($31.38) stock price. Ophthotech Corporation has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Chardan Capital Markets on Tuesday, August 4 with “Buy”. The stock of Ophthotech Corp (NASDAQ:OPHT) has “Overweight” rating given on Wednesday, April 27 by Barclays Capital. The company was maintained on Monday, December 14 by Chardan Capital Markets. The rating was reinitiated by Oppenheimer on Friday, August 14 with “Outperform”. Chardan Capital Markets maintained the shares of OPHT in a report on Tuesday, September 8 with “Buy” rating. The firm has “Buy” rating by Suntrust Robinson given on Friday, January 8. The company was initiated on Thursday, January 7 by SunTrust. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, August 6 report. The firm has “Sell” rating given on Friday, August 7 by Goldman Sachs. On Thursday, September 3 the stock rating was initiated by Citigroup with “Buy”.
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 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.
Schwab Charles Invest Management last reported 103,009 shares in the company. Rockefeller Fincl last reported 1,816 shares in the company. Bank & Trust Of America Corp De has 0% invested in the company for 234,439 shares. Pnc Serv Group Inc Inc holds 0% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 1,031 shares. Northern Corp holds 336,435 shares or 0.01% of its portfolio. Polar Capital Llp accumulated 0.04% or 43,076 shares. Moreover, Tfs Cap Limited Liability Corporation has 0.14% invested in Ophthotech Corp (NASDAQ:OPHT) for 15,002 shares. Wells Fargo Mn accumulated 0.01% or 352,419 shares. Gam Ag reported 63,000 shares or 0.05% of all its holdings. Moreover, State Board Of Administration Of Florida Retirement Systems has 0% invested in Ophthotech Corp (NASDAQ:OPHT) for 16,832 shares. Cornerstone Cap Mngmt Holding Ltd Liability has 3,060 shares for 0% of their US portfolio. Moreover, Blackrock has 0% invested in Ophthotech Corp (NASDAQ:OPHT) for 3,965 shares. Deutsche Fincl Bank Ag accumulated 0% or 94,893 shares. Smith Asset Mgmt Grp Limited Partnership has 4,930 shares for 0.01% of their US portfolio. Eagle Asset Inc has 0.32% invested in the company for 917,869 shares.
Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 12 insider sales for $76.83 million net activity. 1.30M shares were sold by Novo A/S, worth $63.70M. GUYER DAVID R also sold $1.55M worth of Ophthotech Corp (NASDAQ:OPHT) shares. Shares for $1.10 million were sold by PATEL SAMIR CHANDRAKANT on Thursday, September 29. Another trade for 3,500 shares valued at $199,395 was made by Bolte Axel on Friday, June 3. SBLENDORIO GLENN had sold 671 shares worth $38,381.
More 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 Benzinga.com published the news titled: “The Street Is Getting The Ophthotech Story All Wrong” on October 29, 2016. Businesswire.com‘s news article titled: “Ophthotech Corporation to Report Third Quarter 2016 Financial Results and Host …” with publication date: October 24, 2016 was also an interesting one.
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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