Ophthotech Corporation was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $2.62 to $2.90 in the past one-month time frame.
The move came after the company reported that it has inked a global license agreement with the University of Pennsylvania and University of Florida to develop and commercialize adeno-associated virus (AAV) gene therapy product.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Ophthotech currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Investors interested in the Medical - Biomedical and Genetics industry may consider Genomic Health, Inc. GHDX, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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