Ophthotech Corp. (OPHT) Files Form 4 Insider Selling : Samir Chandrakant Patel Sells 20,000 Shares

Ophthotech Corp. (OPHT): Samir Chandrakant Patel , President of Ophthotech Corp. sold 20,000 shares on May 31, 2016. The Insider selling transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were sold at $53.31 per share for a total value of $1,066,430.62 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 25, 2016, A/s Novo (10% owner) sold 1,300,000 shares at $49.00 per share price.On May 4, 2016, David R Guyer (Chief Executive Officer) sold 22,060 shares at $46.42 per share price.Also, On May 3, 2016, Samir Chandrakant Patel (President) sold 20,000 shares at $47.24 per share price.On Jan 13, 2016, Nicholas Galakatos (director) sold 3,000 shares at $65.64 per share price.

Shares of Ophthotech Corp (OPHT) ended Wednesday, Jun 1, 2016 session in red amid volatile trading. The shares closed down -0.35 points or -0.65% at $53.35 with 5,25,611 shares getting traded. Post opening the session at $53.29, the shares hit an intraday low of $52.11 and an intraday high of $53.96 and the price vacillated in this range throughout the day. The company has a market cap of $1,887 M and the number of outstanding shares has been calculated to be 3,53,70,681 shares. The 52-week high of Ophthotech Corp is $80 and the 52-week low is $35.72.

Ophthotech Corp Money Flow Index Chart

Company has been under the radar of several Street Analysts.Ophthotech Corp is Upgraded by JP Morgan to Overweight. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Jun 2, 2016.Ophthotech Corp is Initiated by Barclays to Overweight and the brokerage firm has set the Price Target at $85. The Rating was issued on Apr 27, 2016.

Ophthotech Corporation is a United States-based biopharmaceutical company. The Company is engaged in developing and commercializing therapies for the treatment of diseases of the eye and focuses on developing therapeutics for age-related macular degeneration (AMD). Its product pipeline includes Fovista anti-platelet derived growth factor (PDGF) therapy which is in Phase III clinical trials for use in combination with anti-VEGF drugs to disrupt the formation of abnormal new blood vessels in wet AMD. It prevents PDGF from binding to its natural receptor on pericytes thus causing pericytes to be stripped from newly formed abnormal blood vessels.Its second product candidate Zimura an inhibitor of complement factor C5 is developed for the treatment of geographic atrophy (a form of dry AMD) and in combination with anti-VEGF therapy and Fovista for the treatment of wet AMD. Both Fovista and Zimura are aptamers single strands of nucleic acid that binds with affinity to targets.

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