Ophthotech Corporation (OPHT) Shares are Up 12.8%

Ophthotech Corporation (OPHT) : Traders are bullish on Ophthotech Corporation (OPHT) as it has outperformed the S&P 500 by a wide margin of 20.46% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 12.2%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 12.8% in the last 1 week, and is up 18.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 11.37% and the 50-Day Moving Average is 5.08%.The 200 Day SMA reached 9.55% Ophthotech Corporation is up 12.5% in the last 3-month period. Year-to-Date the stock performance stands at -24.37%.


Ophthotech Corporation (OPHT) : 8 Wall Street analysts covering Ophthotech Corporation (OPHT) believe that the average level the stock could reach for the short term is $102.75. The maximum price target given is $200 and the minimum target for short term is around $72, hence the standard deviation is calculated at $40.52.

For the current week, the company shares have a recommendation consensus of Buy. Ophthotech Corporation (NASDAQ:OPHT): The stock opened at $58.51 and touched an intraday high of $59.7 on Friday. During the day, the stock corrected to an intraday low of $57.49, however, the bulls stepped in and pushed the price higher to close in the green at $59.39 with a gain of 2.38% for the day. The total traded volume for the day was 1,013,926. The stock had closed at $59.39 in the previous trading session.

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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