Why Ophthotech (OPHT) Could Be Positioned for a Surge?

Zacks

Ophthotech Corporation (OPHT) is a biomedical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on OPHT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ophthotech could be a solid choice for investors.
 
Current Quarter Estimates for OPHT
 
In the past 30 days, 3 estimates have gone higher for Ophthotech with no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 73 cents a share 30 days ago, to a loss of 56 cents today, a move of 23.3%.
 
Current Year Estimates for OPHT
 
Meanwhile, Ophthotech’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $3.04 per share 30 days ago to a loss of $2.70 per share today, an increase of 11.2%.
 
Bottom Line
 
The stock has also started to move higher lately, adding 28.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
 
 




OPHTHOTECH CORP (OPHT): Free Stock Analysis Report


Zacks Investment Research

View Comments (0)