Auriga Maintains a 'Hold' on ISTA Pharmaceuticals (ISTA); Some M&A Premium Already Built-In

Auriga maintains a 'Hold' on ISTA Pharmaceuticals (NASDAQ: ISTA) price target of $9.00.

Auriga analyst says, "Q4 results were mixed. Revenue was $45.1 million vs. consensus of 46.6 million. Non GAAP-EPS was $0.25 vs. consensus of $0.21. Management is focused on the strategic review process and visibility on the timeline and potential outcomes is low. We believe the current share price has some M&A premium already built-in. If the review process does not yield a sale of the company, investors may be disappointed and the share price may be vulnerable. We see limited upside at this level and recommend investors stay on the sideline."

For an analyst ratings summary and ratings history on ISTA Pharmaceuticals click here. For more ratings news on ISTA Pharmaceuticals click here.

Shares of ISTA Pharmaceuticals closed at $8.40 yesterday.

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