Ophthotech (NASDAQ:OPHT) Rating Reaffirmed
In an interesting research report issued this morning, Chardan Capital Markets reaffirmed their Buy rating on Ophthotech (NASDAQ:OPHT) shares. The price target would now indicate a possible upside of 202.43% from company’s last close price.
From a total of 9 analysts covering Ophthotech Corporation (NASDAQ:OPHT) stock, 8 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $128 while the lowest target price is $45. The mean of all analyst targets is $90.11 with a 33.07% above today’s ($66.13) stock price. Ophthotech Corporation was the topic of 7 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Chardan Capital Markets maintained shares on September 8 with “Buy” rating. Oppenheimer reinitiated OPHT stock in a recent report from August 14 with “Outperform” rating. Finally, Stifel Nicolaus maintained the stock with “Buy” rating in a report issued on an August 6.
The stock increased 0.36% or $0.24 on December 11, striking $66.13. Approximately shares of stock traded hands. Ophthotech Corp (NASDAQ:OPHT) has risen 35.54% since May 11, 2015 and is uptrending. It has outperformed by 39.96% the S&P500.
The overall sentiment of institutions has decreased to 1.29 in Q2 2015. Its down 0.99, from 2.28 in 2015Q2. The ratio dived, as 19 institutions have sold all the shares of Ophthotech Corp that they owned while 43 funds have taken shares off the table. 24 funds have purchased shares for the first time while 56 added to their positions. These institutions now hold 29.80 million shares or 1.80% less than the 30.35 million shares they owned in 2015Q2.
The Fund Sv Life Sciences Advisers Llc currently is holding shares equating to 25.02% of its total portfolio in Ophthotech Corp representing a total of 1.10 million shares. Another fund,Novo A S, is holding a total of 4.91 million shares equating to 20.56% of their holdings. Additionally, Jhl Capital Group Llc has a 3.27 million share stake in Ophthotech Corp which represents 14.63% of their total portfolio. The Fund, Alpinvest Partners B.V., based out of Netherlands, has also built up a stake in the stock, which represents a total of 8.9% of their total portfolio. Finally Opaleye Management Inc., a fund which is based in the state of Massachusetts reported a total holdings of 105,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 31, 2015, shareholders of Ophthotech Corp have witnessed 0 buys, and a total of 12 insider sales equating to a net activity of approximately $10.30 million . Patel Samir Chandrakant sold 27,215 shares worth approximately $1.18 million. Wood Barbara A sold 2,000 shares worth approximately $90,000. Guyer David R sold 18,582 shares worth approximately $700,438. Sblendorio Glenn sold 2,000 shares worth approximately $180,000. The company insider Bolte Axel bought 500 shares worth $24,135.
Ophthotech Corporation is a United States biopharmaceutical company. The company has a market cap of $2.31 billion. The Firm is engaged in developing and commercializing therapies for the treatment of diseases of the eye and focuses on developing therapeutics for age-related macular degeneration . It currently has negative earnings. The Company’s product pipeline includes Fovista anti-platelet derived growth factor (PDGF) therapy, which is in Phase III clinical trials for use in combination with anti-VEGF drugs to disrupt the formation of abnormal new blood vessels in wet AMD.
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.”