UPDATE: Summer Street Initiates Lpath Incorporated at Buy on Valuation

27% profit every 20 days?

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Summer Street initiated coverage on Lpath Incorporated (NASDAQ: LPTN) with a Buy rating and an $18 price target. Summer Street noted, "Lpath's valuation is compelling when compared to other platform companies in similar positions. Our iSONEP royalty projections begin in 2017 at $28MM and grow to $692MM in 2021, despite sharing the frontline market opportunity with a potential anti-PDGF inhibitor. By only including a portion of the frontline AMD market with VEGF inhibitors and the initial market refractory anti-VEGF agent failures, our model may be overly conservative." Lpath Incorporated closed at $4.90 on Wednesday.

27% profit every 20 days?

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