Today, Alps Advisors Inc. Sold shares of Ophthotech Corp. (OPHT)

Today, Alps Advisors Inc. Sold shares of Ophthotech Corp. (OPHT)

Alps Advisors Inc. lowered its position in Ophthotech Corp. (NASDAQ:OPHT) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,374 shares of the biopharmaceutical company’s stock after selling 4,315 shares during the period. Alps Advisors Inc. owned 0.13% of Ophthotech Corp. worth $2,093,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OPHT. Suffolk Capital Management LLC bought a new stake in Ophthotech Corp. during the third quarter worth about $11,641,000. Tocqueville Asset Management L.P. increased its stake in Ophthotech Corp. by 5.2% in the third quarter. Tocqueville Asset Management L.P. now owns 73,340 shares of the biopharmaceutical company’s stock worth $3,383,000 after buying an additional 3,650 shares during the period. State of Wisconsin Investment Board bought a new stake in Ophthotech Corp. during the third quarter worth about $3,045,000. Capital Fund Management S.A. increased its stake in Ophthotech Corp. by 809.1% in the third quarter. Capital Fund Management S.A. now owns 51,065 shares of the biopharmaceutical company’s stock worth $2,356,000 after buying an additional 45,448 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Ophthotech Corp. by 66.0% in the third quarter. Great West Life Assurance Co. Can now owns 3,651 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 1,451 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Shares of Ophthotech Corp. (NASDAQ:OPHT) traded up 2.23% during trading on Friday, reaching $38.96. 494,290 shares of the company traded hands. The company’s market capitalization is $1.39 billion. Ophthotech Corp. has a 52 week low of $29.85 and a 52 week high of $80.00. The company’s 50-day moving average price is $36.78 and its 200-day moving average price is $49.92.

Ophthotech Corp. (NASDAQ:OPHT) last announced its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.64) by $0.07. The firm earned $1.67 million during the quarter, compared to the consensus estimate of $6.20 million. Ophthotech Corp. had a negative return on equity of 916.07% and a negative net margin of 323.19%. Equities research analysts forecast that Ophthotech Corp. will post ($4.94) EPS for the current fiscal year.

A number of research firms recently issued reports on OPHT. Barclays PLC restated a “buy” rating and set a $70.00 price objective on shares of Ophthotech Corp. in a report on Wednesday, November 9th. BTIG Research reiterated a “buy” rating and issued a $92.00 target price on shares of Ophthotech Corp. in a research note on Monday, October 31st. Chardan Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Ophthotech Corp. in a research note on Monday, October 31st. Citigroup Inc. set a $92.00 target price on shares of Ophthotech Corp. and gave the stock a “buy” rating in a research note on Sunday, October 30th. Finally, Zacks Investment Research downgraded shares of Ophthotech Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. Two analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $87.70.

In other Ophthotech Corp. news, CEO David R. Guyer sold 22,060 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $35.61, for a total transaction of $785,556.60. Following the transaction, the chief executive officer now owns 24,541 shares in the company, valued at approximately $873,905.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Samir Chandrakant Patel sold 20,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $52.80, for a total transaction of $1,056,000.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Ophthotech Corp. Company Profile

Ophthotech Corporation is a biopharmaceutical company. The Company specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). Its advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs.

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