In a report published Wednesday, Canaccord Genuity analyst John Newman initiated coverage on Lpath LPTN with a Buy rating and $17.00 price target.
In the report, Canaccord Genuity noted, “We are initiating coverage of Lpath with a BUY rating and $17 price target. Lpath's iSONEP could be paradigm changing in wet AMD with $2.4B peak sales potential. The name is still under the radar, with Lpath developing a novel wet AMD treatment that targets the underlying cause, unlike current standard of care which focuses on symptom treatment.”
Lpath closed on Tuesday at $4.25.
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