Ophthotech Corporation (OPHT)’s Bearish Wedge Down Pattern Points to Higher Stock Risks

May 18, 2018 - By Ned Sandoval

Investors sentiment increased to 0.96 in Q4 2017. Its up 0.26, from 0.7 in 2017Q3. It improved, as 9 investors sold Ophthotech Corporation shares while 19 reduced holdings. 13 funds opened positions while 14 raised stakes. 18.24 million shares or 0.33% more from 18.17 million shares in 2017Q3 were reported.
Susquehanna Gp Llp reported 0% of its portfolio in Ophthotech Corporation (NASDAQ:OPHT). Jacobs Levy Equity Mngmt Inc reported 0.03% in Ophthotech Corporation (NASDAQ:OPHT). California Pub Employees Retirement Systems holds 0% or 43,600 shares. Canada Pension Plan Inv Board stated it has 0% of its portfolio in Ophthotech Corporation (NASDAQ:OPHT). 199,408 were accumulated by Acadian Asset Mgmt Ltd Liability Company. Federated Invsts Inc Pa holds 0% of its portfolio in Ophthotech Corporation (NASDAQ:OPHT) for 55,353 shares. Quinn Opportunity Partners Ltd Liability Co, a New York-based fund reported 36,000 shares. 58,532 were accumulated by Bank Of New York Mellon. Creative Planning accumulated 0% or 53,075 shares. Regents Of The University Of California has invested 0.08% in Ophthotech Corporation (NASDAQ:OPHT). Millennium Management Lc accumulated 1.01 million shares or 0% of the stock. Ajo L P reported 729,445 shares. Numeric Ltd Llc invested in 0% or 194,744 shares. Moreover, Dimensional Fund Lp has 0% invested in Ophthotech Corporation (NASDAQ:OPHT) for 186,004 shares. Paloma Prtn reported 26,281 shares.

Since December 29, 2017, it had 0 buys, and 9 sales for $126,644 activity. $18,394 worth of stock was sold by SBLENDORIO GLENN on Sunday, April 1. Westby Keith also sold $1,153 worth of Ophthotech Corporation (NASDAQ:OPHT) shares. $1,908 worth of Ophthotech Corporation (NASDAQ:OPHT) was sold by WOOD BARBARA A.

The stock of Ophthotech Corporation (OPHT) formed a down wedge with $2.64 target or 9.00 % below today’s $2.90 share price. The 6 months wedge indicates high risk for the $104.95 million company. If the $2.64 price target is reached, the company will be worth $9.45M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 2.47% or $0.07 during the last trading session, reaching $2.9. About 198,584 shares traded or 6.10% up from the average. Ophthotech Corporation (NASDAQ:OPHT) has declined 26.03% since May 18, 2017 and is downtrending. It has underperformed by 37.58% the S&P500.

Analysts await Ophthotech Corporation (NASDAQ:OPHT) to report earnings on July, 25. They expect $-0.40 EPS, up 35.48 % or $0.22 from last year’s $-0.62 per share. After $-0.36 actual EPS reported by Ophthotech Corporation for the previous quarter, Wall Street now forecasts 11.11 % negative EPS growth.

Ophthotech Corporation (NASDAQ:OPHT) Ratings Coverage

Among 3 analysts covering Ophthotech (NASDAQ:OPHT), 0 have Buy rating, 2 Sell and 1 Hold. Therefore 0 are positive. Ophthotech had 3 analyst reports since February 28, 2018 according to SRatingsIntel. As per Monday, March 19, the company rating was downgraded by J.P. Morgan. The company was maintained on Wednesday, February 28 by Chardan Capital Markets. The stock of Ophthotech Corporation (NASDAQ:OPHT) earned “Underweight” rating by JP Morgan on Monday, March 19.

More recent Ophthotech Corporation (NASDAQ:OPHT) news were published by: Nasdaq.com which released: “Recent Analysis Shows PHH, Stanley Black & Decker, Invacare, Ophthotech, Party City Holdco, and Hyatt Hotels …” on May 14, 2018. Also Seekingalpha.com published the news titled: “Ophthotech’s (OPHT) CEO Glenn Sblendorio on Q1 2018 Results – Earnings Call Transcript” on May 09, 2018. Streetinsider.com‘s news article titled: “Ophthotech Corp (OPHT) Tops Q1 EPS by 4c” with publication date: May 09, 2018 was also an interesting one.

Ophthotech Corporation, a biopharmaceutical company, develops novel therapeutics to treat diseases of the back of the eye. The company has market cap of $104.95 million. The Company’s principal product candidate, Fovista, an anti-platelet derived growth factor, is in Phase III clinical development for use in combination with anti-vascular endothelial growth factor drugs for the treatment of wet age-related macular degeneration . It has a 0.73 P/E ratio. The firm is also developing Zimura, an inhibitor of complement factor C5, for the treatment of dry AMD and wet AMD.

Ophthotech Corporation (NASDAQ:OPHT) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: