Ophthotech Corp. (OPHT): A/s Novo , 10% owner of Ophthotech Corp. sold 1,300,000 shares on May 24, 2016. The Insider selling transaction was reported by the company on May 25, 2016 to the Securities and Exchange Commission. The shares were sold at $49.00 per share for a total value of $637 , 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 4, 2016, David R Guyer (Chief Executive Officer) sold 22,060 shares at $46.42 per share price.On May 3, 2016, Samir Chandrakant Patel (President) sold 20,000 shares at $47.24 per share price.Also, On Jan 13, 2016, Nicholas Galakatos (director) sold 3,000 shares at $65.64 per share price.On Jan 6, 2016, Barbara A Wood (SVP,General Counsel,Secretary) sold 1,000 shares at $76.37 per share price.
Ophthotech Corp: On Friday, May 20, 2016 heightened volatility was witnessed in Ophthotech Corp which led to swings in the share price. The shares opened for trading at $47.78 and hit $48.725 on the upside , eventually ending the session at $48.32, with a gain of 1.70% or 0.81 points. The heightened volatility saw the trading volume jump to 3,26,817 shares. The 52-week high of the share price is $80 and the company has a market cap of $1,709,127 M . The 52-week low of the share price is at $35.72.
Company has been under the radar of several Street Analysts.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.