BTIG Says Buy Ophthotech (OPHT) Ahead of Upcoming Fovista Data

September 20, 2016 7:30 AM EDT
Get Alerts OPHT Hot Sheet
Price: $36.12 -1.23%

Rating Summary:
    10 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BTIG recommends to scoop-up shares of Ophthotech (Nasdaq: OPHT) ahead of data from two Fovista phase 3s. The firm reiterates OPHT at Buy with a price target of $92.

Analyst Ling Wang commented, Although conventional wisdom generally suggests a smaller treatment delta going from Phase II to III, we expect a similar or larger treatment delta, given the trend of Phase IIb data over time and durable efficacy of Fovista suggested in a Phase II anti-fibrosis trial. A competing product from Regeneron (REGN, Neutral, Analyst: Dane Leone), REGN 2176-3 (Phase II data by YE16), is not a meaningful threat, in our view.

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