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UPDATE: Summer Street Initiates Lpath Incorporated at Buy on Valuation


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.

Latest Ratings for LPTN

Apr 2014Canaccord GenuityInitiates Coverage OnBuy
Nov 2013McNicoll Lewis VlakInitiates Coverage OnBuy
Dec 2012Summer StreetInitiates Coverage OnBuy

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Posted-In: summer streetAnalyst Color Initiation Intraday Update Analyst Ratings

Latest Ratings

MROWolfe ResearchUpgrades15.0
BLB of A SecuritiesInitiates Coverage On120.0
BPRNPiper SandlerUpgrades31.0
TSCOTelsey Advisory GroupMaintains205.0
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