A statement released earlier today by Zacks Investment Research about Ophthotech Corp (NASDAQ:OPHT) bumps the target price to $51.00
- Updated: October 5, 2016
Zacks Investment Research increased the stock price target of Ophthotech Corp (NASDAQ:OPHT) to $51.00 reporting a potential upside of 0.13%.
Previously on 06/02/2016, JP Morgan reported on Ophthotech Corp (NASDAQ:OPHT) increased the target price from $60.00 to $84.00. At the time, this indicated a possible upside of 0.44%.
Yesterday Ophthotech Corp (NASDAQ:OPHT) traded 2.20% higher at $45.13. The company’s 50-day moving average is $53.77 and its 200-day moving average is $52.25. The last closing price is down -14.04% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 548,745 shares of the stock traded hands, down from an average trading volume of 613,943
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Ophthotech Corp has a 52 week low of $38.55 and a 52 week high of $80.00 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 9 brokers have issued a research note on the company. The average stock price target is $94.56 with 3 brokers rating the stock a strong buy, 6 brokers rating the stock a buy, 1 broker rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Ophthotech Corp (NASDAQ:OPHT)
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. It is also developing its product candidate Zimura for the treatment of patients with geographic atrophy, a form of dry AMD, in combination with VEGF therapy for the treatment of polypoidal choroidal vasculopathy (PCV). Fovista is being tested in Phase III clinical development. In addition, it has initiated additional clinical trials to evaluate the potential additional benefits of Fovista administered in combination with anti-VEGF drugs in wet AMD patients, known as Fovista Expansion Studies. Zimura has completed a small, multicenter, uncontrolled, open label Phase I/IIa clinical trial.
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