Shares of Ophthotech Corporation (NASDAQ:OPHT) have earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.75.

In other news, Chairman David R. Guyer sold 17,678 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $2.58, for a total transaction of $45,609.24. Following the sale, the chairman now directly owns 37,692 shares in the company, valued at approximately $97,245.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 33,909 shares of company stock worth $87,485 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in OPHT. Morgan Stanley raised its position in shares of Ophthotech Corporation by 839.7% during the 1st quarter. Morgan Stanley now owns 2,229,151 shares of the biopharmaceutical company’s stock worth $8,159,000 after purchasing an additional 1,991,921 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ophthotech Corporation during the 1st quarter worth approximately $6,801,000. Stonepine Capital Management LLC raised its position in shares of Ophthotech Corporation by 53.4% during the 1st quarter. Stonepine Capital Management LLC now owns 3,516,489 shares of the biopharmaceutical company’s stock worth $12,870,000 after purchasing an additional 1,223,589 shares during the period. Quantitative Investment Management LLC raised its position in shares of Ophthotech Corporation by 452.0% during the 1st quarter. Quantitative Investment Management LLC now owns 564,100 shares of the biopharmaceutical company’s stock worth $2,064,000 after purchasing an additional 461,900 shares during the period. Finally, Oxford Asset Management raised its position in shares of Ophthotech Corporation by 827.1% during the 1st quarter. Oxford Asset Management now owns 364,901 shares of the biopharmaceutical company’s stock worth $1,336,000 after purchasing an additional 325,540 shares during the period. Institutional investors and hedge funds own 61.40% of the company’s stock.

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Shares of Ophthotech Corporation (NASDAQ OPHT) traded up 9.84% during midday trading on Friday, hitting $2.79. The stock had a trading volume of 806,227 shares. Ophthotech Corporation has a one year low of $2.24 and a one year high of $59.46. The company’s market cap is $100.28 million. The stock has a 50 day moving average of $2.73 and a 200-day moving average of $2.83.

Ophthotech Corporation (NASDAQ:OPHT) last announced its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.45. The firm had revenue of $1.66 million for the quarter, compared to analyst estimates of $1.38 million. During the same quarter in the previous year, the company earned ($0.85) EPS. The company’s quarterly revenue was down 94.1% compared to the same quarter last year. Analysts forecast that Ophthotech Corporation will post $0.29 EPS for the current fiscal year.

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.

Analyst Recommendations for Ophthotech Corporation (NASDAQ:OPHT)

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