Ophthotech (OPHT) Upgraded to Hold at ValuEngine

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Ophthotech (NASDAQ:OPHT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday, January 2nd.

Separately, Zacks Investment Research lowered Ophthotech from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.50.

OPHT traded down $0.01 on Wednesday, reaching $1.39. 95,988 shares of the stock were exchanged, compared to its average volume of 374,456. The stock has a market cap of $56.12 million, a P/E ratio of 0.44 and a beta of 1.49. Ophthotech has a fifty-two week low of $1.02 and a fifty-two week high of $4.50.

Ophthotech (NASDAQ:OPHT) last announced its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. As a group, equities research analysts predict that Ophthotech will post -1.55 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Stonepine Capital Management LLC grew its position in shares of Ophthotech by 21.6% in the third quarter. Stonepine Capital Management LLC now owns 2,324,782 shares of the biopharmaceutical company’s stock valued at $5,486,000 after purchasing an additional 412,764 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ophthotech by 4.9% in the third quarter. Vanguard Group Inc. now owns 1,802,833 shares of the biopharmaceutical company’s stock valued at $4,254,000 after acquiring an additional 83,837 shares during the last quarter. Vanguard Group Inc lifted its holdings in Ophthotech by 4.9% in the third quarter. Vanguard Group Inc now owns 1,802,833 shares of the biopharmaceutical company’s stock valued at $4,254,000 after acquiring an additional 83,837 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Ophthotech by 4.5% in the third quarter. Acadian Asset Management LLC now owns 1,216,555 shares of the biopharmaceutical company’s stock valued at $2,872,000 after acquiring an additional 52,287 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Ophthotech by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 958,137 shares of the biopharmaceutical company’s stock valued at $2,261,000 after acquiring an additional 91,041 shares during the last quarter. Institutional investors and hedge funds own 46.09% of the company’s stock.

About Ophthotech

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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