Wall Street analysts expect that Ophthotech Corp (NASDAQ:OPHT) will announce earnings per share (EPS) of ($0.40) for the current quarter, according to Zacks. Zero analysts have issued estimates for Ophthotech’s earnings. Ophthotech posted earnings of ($0.62) per share during the same quarter last year, which would suggest a positive year over year growth rate of 35.5%. The company is expected to announce its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that Ophthotech will report full-year earnings of ($1.63) per share for the current year, with EPS estimates ranging from ($1.75) to ($1.53). For the next financial year, analysts expect that the company will post earnings of ($1.25) per share, with EPS estimates ranging from ($1.45) to ($1.11). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ophthotech.
Ophthotech (NASDAQ:OPHT) last issued its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.04. Ophthotech had a net margin of 26.69% and a negative return on equity of 1,485.62%.
A number of equities research analysts recently weighed in on OPHT shares. Zacks Investment Research upgraded shares of Ophthotech from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Monday, May 14th. ValuEngine lowered shares of Ophthotech from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. JPMorgan Chase & Co. lowered shares of Ophthotech from a “neutral” rating to an “underweight” rating in a research note on Monday, March 19th. TheStreet downgraded shares of Ophthotech from a “c” rating to a “d+” rating in a research report on Friday, March 2nd. Finally, Chardan Capital reissued a “hold” rating and set a $4.00 target price on shares of Ophthotech in a research report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.67.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC boosted its holdings in Ophthotech by 2.6% in the 4th quarter. Armistice Capital LLC now owns 3,450,000 shares of the biopharmaceutical company’s stock worth $10,764,000 after buying an additional 86,000 shares during the period. Millennium Management LLC boosted its holdings in Ophthotech by 50.8% in the 4th quarter. Millennium Management LLC now owns 1,007,890 shares of the biopharmaceutical company’s stock worth $3,145,000 after buying an additional 339,656 shares during the period. Tamarack Advisers LP boosted its holdings in Ophthotech by 13.2% in the 1st quarter. Tamarack Advisers LP now owns 848,840 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 98,840 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ophthotech by 202.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 563,271 shares of the biopharmaceutical company’s stock valued at $1,543,000 after purchasing an additional 377,267 shares during the period. Finally, Spark Investment Management LLC boosted its holdings in Ophthotech by 65.8% in the 1st quarter. Spark Investment Management LLC now owns 428,700 shares of the biopharmaceutical company’s stock valued at $1,174,000 after purchasing an additional 170,200 shares during the period. 58.79% of the stock is owned by institutional investors.
Shares of OPHT remained flat at $$2.65 on Friday. 97,450 shares of the company were exchanged, compared to its average volume of 1,754,760. Ophthotech has a 12 month low of $2.25 and a 12 month high of $4.50. The firm has a market cap of $97.35 million, a price-to-earnings ratio of 0.84 and a beta of 1.38.
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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