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Fly News Breaks for December 2, 2016
OPHT
Dec 2, 2016 | 08:27 EDT
Stifel analyst Stephen D. Willey notes that top-line data evaluating the impact of Ophthotech's Fovista in wet AMD is expected this month. He thinks that investors are only giving the company's drug a 25%-30% chance of succeeding. However, he thinks that Fovista can produce statistically significant visual acuity gains, and he believes that the stock's risk/reward ratio is positive at current levels. The analyst keeps a $75 price target and a Buy rating on the shares.
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