ValuEngine Downgrades Ophthotech (OPHT) to Strong Sell
ValuEngine downgraded shares of Ophthotech (NASDAQ:OPHT) from a sell rating to a strong sell rating in a research note published on Tuesday.
Several other equities research analysts also recently issued reports on OPHT. Zacks Investment Research upgraded Ophthotech from a hold rating to a buy rating and set a $3.00 price target for the company in a report on Monday, May 14th. Chardan Capital restated a hold rating and issued a $4.00 price target on shares of Ophthotech in a report on Wednesday, June 13th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Ophthotech has an average rating of Hold and a consensus price target of $3.67.
Shares of Ophthotech stock opened at $2.52 on Tuesday. Ophthotech has a 1 year low of $2.25 and a 1 year high of $4.50. The stock has a market capitalization of $92.67 million, a price-to-earnings ratio of 0.79 and a beta of 1.32.
Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Ophthotech in the second quarter worth about $3,179,000. Spark Investment Management LLC increased its holdings in shares of Ophthotech by 65.8% in the first quarter. Spark Investment Management LLC now owns 428,700 shares of the biopharmaceutical company’s stock worth $1,174,000 after acquiring an additional 170,200 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Ophthotech in the first quarter worth about $1,051,000. Alambic Investment Management L.P. increased its holdings in shares of Ophthotech by 85.2% in the first quarter. Alambic Investment Management L.P. now owns 125,040 shares of the biopharmaceutical company’s stock worth $343,000 after acquiring an additional 57,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ophthotech by 202.8% during the first quarter. Dimensional Fund Advisors LP now owns 563,271 shares of the biopharmaceutical company’s stock worth $1,543,000 after buying an additional 377,267 shares in the last quarter. Institutional investors own 56.17% of the company’s stock.
Ophthotech Corporation, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, for dry and wet forms of age-related macular degeneration, a disorder of the central portion of the retina known as the macula.
Further Reading: Price to Earnings Ratio (PE)
To view ValuEngine’s full report, visit ValuEngine’s official website.
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