Cowen Starts Ophthotech Corp (OPHT) at Outperform

Cowen initiates coverage on Ophthotech Corp (NASDAQ: OPHT) with a Outperform rating and a price target of $80.00.

Analyst Yatin Suneja commented, "We are initiating coverage of OPHT with an Outperform rating and $80 PT. OPHT’s lead candidate Fovista is a PDGF inhibitor that has produced solid data in a 449-patient Phase II trial in wet AMD. Our consultants express much optimism for success in an ongoing Phase III program and we believe Fovista holds the potential to achieve $2B+ in peak global sales in the large retinal disease market."

For an analyst ratings summary and ratings history on Ophthotech Corp click here. For more ratings news on Ophthotech Corp click here.

Shares of Ophthotech Corp closed at $52.39 yesterday.

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