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Fly News Breaks for June 2, 2016
OPHT
Jun 2, 2016 | 05:48 EDT
JPMorgan analyst Anupam Rama upgraded Ophthotech to Overweight saying the Fovista phase 3 Lucentis combination studies reading out in Q4 have a very high probability of success. The analyst's base case assumes a four-plus letter gain in visual acuity compared to Lucentis monotherapy, resulting in 55%-60% share upside. His "homerun scenario," or five-plus letter, results in 150% share upside. He raised his price target for Ophthotech shares to $84 from $60.
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