Stock of The Day: What’s in Ophthotech Corp After Today’s Big Increase?

Stock of The Day: What's in Ophthotech Corp After Today's Big Increase?

The stock of Ophthotech Corp (NASDAQ:OPHT) is a huge mover today! About 1.19 million shares traded hands or 36.48% up from the average. Ophthotech Corp (NASDAQ:OPHT) has declined 18.71% since April 20, 2016 and is downtrending. It has underperformed by 23.26% the S&P500.
The move comes after 6 months positive chart setup for the $1.37 billion company. It was reported on Nov, 22 by Barchart.com. We have $38.92 PT which if reached, will make NASDAQ:OPHT worth $54.80 million more.

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. The firm has “Buy” rating given on Thursday, January 7 by SunTrust. Chardan Capital Markets maintained Ophthotech Corp (NASDAQ:OPHT) rating on Monday, December 14. Chardan Capital Markets has “Buy” rating and $200 price target. Goldman Sachs downgraded the stock to “Sell” rating in Friday, August 7 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. Chardan Capital Markets maintained Ophthotech Corp (NASDAQ:OPHT) rating on Tuesday, September 8. Chardan Capital Markets has “Buy” rating and $125.0 price target. The rating was initiated by Citigroup on Thursday, September 3 with “Buy”. As per Friday, January 8, the company rating was initiated by Suntrust Robinson. Citigroup maintained the shares of OPHT in a report on Thursday, August 4 with “Buy” rating. The stock of Ophthotech Corp (NASDAQ:OPHT) has “Overweight” rating given on Wednesday, April 27 by Barclays Capital.

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 decreased to 1.15 in 2016 Q2. Its down 0.80, from 1.95 in 2016Q1. The ratio turned negative, 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.
Geode Mgmt Ltd Com accumulated 0.01% or 224,462 shares. Gabelli Funds holds 0.01% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 19,000 shares. Pura Vida Invs Limited Liability Com holds 1.14% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 52,500 shares. Cornerstone Management Holding Ltd has 3,060 shares for 0% of their US portfolio. Jefferies Gru Ltd Liability Com accumulated 30,274 shares or 0.01% of the stock. Tiaa Cref Management Ltd accumulated 0.01% or 141,025 shares. Principal Fin Gru Inc Inc reported 5,366 shares or 0% of all its holdings. Nicholas Invest Prtn Ltd Partnership holds 0.23% of its portfolio in Ophthotech Corp (NASDAQ:OPHT) for 64,527 shares. M&T Bancorporation Corp last reported 9,365 shares in the company. Moreover, Three Bays Cap L P has 0.93% invested in Ophthotech Corp (NASDAQ:OPHT) for 350,594 shares. Dekabank Deutsche Girozentrale accumulated 0.03% or 56,150 shares. Bankshares Of Montreal Can has 0% invested in the company for 400 shares. Vanguard Grp holds 0.01% or 2.21 million shares in its portfolio. The United Kingdom-based Blackrock Gru Ltd has invested 0% in Ophthotech Corp (NASDAQ:OPHT). American Century Inc reported 29,798 shares or 0% of all its holdings.

Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 12 selling transactions for $13.91 million net activity. PATEL SAMIR CHANDRAKANT sold $1.10 million worth of stock. $199,395 worth of shares were bought by Bolte Axel on Friday, June 3. Novo A/S sold $63.70M worth of Ophthotech Corp (NASDAQ:OPHT) on Tuesday, May 24. $1.25 million worth of Ophthotech Corp (NASDAQ:OPHT) was sold by GUYER DAVID R. Another trade for 671 shares valued at $38,381 was made by SBLENDORIO GLENN on Wednesday, June 1.

More notable recent Ophthotech Corp (NASDAQ:OPHT) news were published by: Fool.com which released: “Why Ophthotech Corp. Shares Soared 14.9% in May” on June 09, 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. Plunged 42% in March” on April 07, 2016. More interesting news about Ophthotech Corp (NASDAQ:OPHT) were released by: Streetinsider.com and their article: “Ophthotech Corp (OPHT) Announces Publication of Strong Fovista Phase 2b Data …” published on October 31, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Ophthotech Corp & Ajinomoto Althea entered into a clinical and comme…” with publication date: November 04, 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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