First Manhattan Co. acquired a new stake in Ophthotech Corporation (NASDAQ:OPHT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 426,144 shares of the biopharmaceutical company’s stock, valued at approximately $1,201,000. First Manhattan Co. owned about 1.19% of Ophthotech Corporation at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Ophthotech Corporation by 28.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock valued at $1,672,000 after acquiring an additional 143,349 shares during the last quarter. Stonepine Capital Management LLC boosted its holdings in shares of Ophthotech Corporation by 1.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 3,576,189 shares of the biopharmaceutical company’s stock valued at $9,155,000 after acquiring an additional 59,700 shares during the last quarter. Tamarack Advisers LP boosted its holdings in shares of Ophthotech Corporation by 32.7% in the 2nd quarter. Tamarack Advisers LP now owns 625,000 shares of the biopharmaceutical company’s stock valued at $1,600,000 after acquiring an additional 153,851 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Ophthotech Corporation by 102.3% in the 2nd quarter. Federated Investors Inc. PA now owns 55,461 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 28,040 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Ophthotech Corporation in the 2nd quarter valued at $269,000. 62.30% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Ophthotech Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 target price on shares of Ophthotech Corporation in a research note on Thursday, September 21st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.00.
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Shares of Ophthotech Corporation (OPHT) opened at $2.86 on Friday. Ophthotech Corporation has a 1-year low of $2.24 and a 1-year high of $40.34. The stock has a market cap of $103.07, a price-to-earnings ratio of 1.82 and a beta of 1.40.
Ophthotech Corporation Profile
Ophthotech Corporation is a biopharmaceutical company. The Company is engaged in the development of therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. Its primary focus is developing therapeutics for age-related macular degeneration (AMD), which is a disorder of the central portion of the retina, known as the macula, that may result in blindness.
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