Goldman Sachs Starts Ophthotech Corp (OPHT) at Neutral

Goldman Sachs initiated coverage on Ophthotech Corp (NASDAQ: OPHT) with a Neutral rating and a price target of $44.00. Analyst Terence Flynn has concerns about competition.

"OPHT is a smid-cap biotech company focused on the development of drugs to treat eye diseases, specifically age-related macular degeneration (AMD). The company’s key drug Fovista (against novel target PDGF for blood vessel growth) is in an ongoing Ph3 program for wet AMD. Given the next significant catalyst for shares is over a year away (Fovista Ph3 data in 2016) and potential future competition from REGN and Roche, we initiate at Neutral," says Flynn.

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 $40.00 yesterday.

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