Chardan Capital Keeps Their Hold Rating on Ophthotech Corp

By Ryan Adsit

Chardan Capital analyst Gbola Amusa reiterated a Hold rating on Ophthotech Corp (NASDAQ: OPHT) yesterday and set a price target of $3. The company’s shares closed yesterday at $2.71, close to its 52-week high of $65.96.

According to TipRanks.com, Amusa is a 1-star analyst with an average return of -3.1% and a 46.2% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Applied Genetic Technologies, and Dimension Therapeutics Inc.

Ophthotech Corp has an analyst consensus of Hold, with a price target consensus of $3.50.

Based on Ophthotech Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.66 million and GAAP net loss of $22.2 million. In comparison, last year the company earned revenue of $28.2 million and had a GAAP net loss of $29.95 million.

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Ophthotech Corp. operates as a biopharmaceutical company. It focuses on discovering, developing and commercializing novel therapeutics to treat diseases of the back of the eye. It develops therapies for age-related macular degeneration.