Cowen analyst Tyler Van Buren said that Regeneron's (REGN) Phase 2 data for aflibercept co-formulated with rinucumab is negative for the class of anti-PDGFs as a whole and lowered his price target on Ophthotech (OPHT) to $60 from $80 after lowering his view of the probability of the success of its own wet AMD treatment to 50%. However, if a 3-4 letter benefit if observed when the Phase III trials read out in December, upside of $80-$120 per share from current levels is still possible, said Van Buren, who keeps an Outperform rating on Ophthotech shares.