Stifel Starts Iveric Bio (ISEE) at Buy
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Stifel analyst Annabel Samimy initiates coverage on Iveric Bio (NASDAQ: ISEE) with a Buy rating and a price target of $22.00.
The analyst comments "We are initiating coverage of IVERIC bio (ISEE) with a Buy rating and a 12-month target price of $22. Though not a first mover in the still untapped market for Geographic Atrophy (GA) — the last stage of macular degeneration — Iveric could very well be the leading treatment for this indication. Zimura has the only known successful pivotal study to date, with high statistical significance in rapidly progressing stage of disease — potentially emerging as the only treatment that could prevent vision loss and function. Zimura will form the foundation for ISEE’s ownership of GA and the broader dry age-related macular degeneration (AMD) landscape. Notably, ISEE has both expansion opportunities (Stargardt) and complementary mechanisms (HTrA1 inhibition), demonstrating its full commitment to GA treatment. ISEE’s gene therapy platform further entrenches the company into inherited retinal diseases. Together, we see ISEE as building the most unique platform for untapped retinal diseases."
Shares of Iveric Bio closed at $8.69 yesterday.
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