Wall Street analysts expect that Ophthotech Corporation (NASDAQ:OPHT) will post sales of $180.65 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ophthotech Corporation’s earnings, with estimates ranging from $176.30 million to $185.00 million. Ophthotech Corporation reported sales of $1.67 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10,717.4%. The business is expected to issue its next earnings results on Tuesday, November 14th.

According to Zacks, analysts expect that Ophthotech Corporation will report full year sales of $180.65 million for the current financial year, with estimates ranging from $180.80 million to $189.12 million. For the next financial year, analysts expect that the company will report sales of $6.08 million per share, with estimates ranging from $3.20 million to $8.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ophthotech Corporation.

Ophthotech Corporation (NASDAQ:OPHT) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.45. The business had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $1.38 million. During the same period last year, the business earned ($0.85) earnings per share. The company’s quarterly revenue was down 94.1% on a year-over-year basis.

Separately, Zacks Investment Research raised shares of Ophthotech Corporation from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research report on Tuesday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ophthotech Corporation currently has a consensus rating of “Hold” and an average target price of $53.53.

In other Ophthotech Corporation news, Chairman David R. Guyer sold 17,678 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $2.58, for a total value of $45,609.24. Following the completion of the sale, the chairman now owns 37,692 shares in the company, valued at approximately $97,245.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 34,609 shares of company stock valued at $89,249. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Ophthotech Corporation by 4,867.3% in the second quarter. Creative Planning now owns 46,941 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 45,996 shares during the last quarter. Federated Investors Inc. PA raised its stake in Ophthotech Corporation by 102.3% in the second quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 28,040 shares in the last quarter. SG Americas Securities LLC raised its stake in Ophthotech Corporation by 67.7% in the first quarter. SG Americas Securities LLC now owns 50,867 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 20,537 shares in the last quarter. Teachers Advisors LLC raised its stake in Ophthotech Corporation by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 52,243 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 2,999 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in Ophthotech Corporation during the second quarter valued at about $269,000. Institutional investors and hedge funds own 72.52% of the company’s stock.

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Ophthotech Corporation (NASDAQ:OPHT) traded down 3.571% during midday trading on Thursday, hitting $2.565. The company had a trading volume of 196,835 shares. Ophthotech Corporation has a 52 week low of $2.24 and a 52 week high of $59.99. The stock’s market capitalization is $92.19 million. The stock has a 50 day moving average price of $2.64 and a 200-day moving average price of $3.17.

About Ophthotech Corporation

Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.

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Earnings History and Estimates for Ophthotech Corporation (NASDAQ:OPHT)

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