HC Wainwright Raises Price Target On Outlook Therapeutics After Wet AMD Trial Data

by Vandana Singh, Benzinga Editor

August 3, 2021 3:37 PM | 1 min read | Make a Comment

H.C. Wainwright raised the price target on Outlook Therapeutics Inc OTLK to $6 from $5 and reiterated a Buy rating.
The Company announced "exceptionally strong" data that showed Lytenava's statistically significant superiority over Lucentis, analyst Douglas Tsao tells investors in a research note.
he sees the 18% difference in the response rate as "leaving no doubt about Lytenava's performance." Tsao raised the drug's probability of success in wet macular degeneration to 80%.
Early Tuesday, Lytenava aced the late-stage trial with a proportion of patients who gain at least 15 letters in the best-corrected visual acuity at 11 months.
Price Action: OTLK shares are up 8.19% at $2.45 during the market session on the last check Tuesday.