Today, Eagle Asset Management Inc. Sold shares of Ophthotech Corp. (OPHT)

Today, Eagle Asset Management Inc. Sold shares of Ophthotech Corp. (OPHT)

Eagle Asset Management Inc. reduced its position in Ophthotech Corp. (NASDAQ:OPHT) by 42.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 526,728 shares of the biopharmaceutical company’s stock after selling 391,141 shares during the period. Eagle Asset Management Inc.’s holdings in Ophthotech Corp. were worth $24,297,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in OPHT. BNP Paribas Arbitrage SA boosted its stake in shares of Ophthotech Corp. by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,590 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,382 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Ophthotech Corp. by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 3,582 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 559 shares during the period. BlackRock Inc. boosted its stake in shares of Ophthotech Corp. by 138.0% in the second quarter. BlackRock Inc. now owns 3,965 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 2,299 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Ophthotech Corp. during the second quarter worth about $227,000. Finally, Oxford Asset Management purchased a new stake in shares of Ophthotech Corp. during the second quarter worth about $267,000. 95.80% of the stock is owned by hedge funds and other institutional investors.

Ophthotech Corp. (NASDAQ:OPHT) traded down 10.793% during trading on Monday, reaching $34.755. 2,143,671 shares of the company’s stock traded hands. The company has a 50-day moving average price of $36.41 and a 200 day moving average price of $49.87. The firm’s market capitalization is $1.24 billion. Ophthotech Corp. has a one year low of $29.85 and a one year high of $80.00.

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

A number of brokerages have recently issued reports on OPHT. Citigroup Inc. set a $92.00 price objective on shares of Ophthotech Corp. and gave the stock a “buy” rating in a research note on Sunday, October 30th. Cowen and Company set a $60.00 target price on shares of Ophthotech Corp. and gave the company a “buy” rating in a research note on Saturday, October 1st. Chardan Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Ophthotech Corp. in a research note on Monday, October 31st. BTIG Research reaffirmed a “buy” rating and set a $92.00 target price on shares of Ophthotech Corp. in a research note on Monday, October 31st. Finally, Barclays PLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Ophthotech Corp. in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $87.70.

In related news, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $55.17, for a total value of $1,103,400.00. Following the completion of the sale, the president now owns 24,239 shares of the company’s stock, valued at approximately $1,337,265.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David R. Guyer sold 22,060 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.61, for a total transaction of $785,556.60. Following the completion of the sale, the chief executive officer now directly owns 24,541 shares of the company’s stock, valued at approximately $873,905.01. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About Ophthotech Corp.

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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