Alambic Investment Management L.P. Purchases New Holdings in Ophthotech Corp (OPHT)
Alambic Investment Management L.P. purchased a new stake in Ophthotech Corp (NASDAQ:OPHT) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 67,500 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.
Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Ophthotech by 28.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 652,992 shares of the biopharmaceutical company’s stock valued at $1,672,000 after buying an additional 143,349 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Ophthotech during the 4th quarter valued at $622,000. Finally, First Manhattan Co. purchased a new stake in shares of Ophthotech during the 3rd quarter valued at $1,201,000. 62.06% of the stock is owned by hedge funds and other institutional investors.
OPHT has been the topic of several research reports. Zacks Investment Research upgraded shares of Ophthotech from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective on the stock in a research report on Monday, November 13th. TheStreet upgraded shares of Ophthotech from an “e+” rating to a “c” rating in a research report on Thursday, November 30th. Finally, ValuEngine cut shares of Ophthotech from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.
Ophthotech Corp (NASDAQ OPHT) opened at $2.79 on Friday. The company has a market cap of $98.43, a price-to-earnings ratio of 1.79 and a beta of 1.43. Ophthotech Corp has a 52-week low of $2.24 and a 52-week high of $4.81.
Ophthotech (NASDAQ:OPHT) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.87. The company had revenue of $206.65 million for the quarter, compared to analysts’ expectations of $185.00 million. Ophthotech had a net margin of 26.69% and a negative return on equity of 69.40%. analysts expect that Ophthotech Corp will post 2.88 earnings per share for the current year.
Ophthotech Company 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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