Ophthotech Corp (OPHT) was Initiated by Barclays to “Overweight” and the brokerage firm has set the Price Target at $85. Barclays advised their investors in a research report released on Apr 27, 2016.
Ophthotech Corp opened for trading at $48.96 and hit $50.4399 on the upside on Friday, eventually ending the session at $50.01, with a gain of 2.04% or 1 points. The heightened volatility saw the trading volume jump to 4,51,134 shares. Company has a market cap of $1,763 M.
In a different news, on Apr 5, 2016, David R Guyer (Chief Executive Officer) sold 22,060 shares at $43.68 per share price. According to the SEC, on Mar 2, 2016, Samir Chandrakant Patel (President) sold 20,000 shares at $45.48 per share price. On Jan 13, 2016, Nicholas Galakatos (director) sold 3,000 shares at $65.64 per share price, according to the Form-4 filing with the securities and exchange commission.
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.