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

  • 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.

Posted In: BriefsWet AMDAnalyst ColorBiotechLong IdeasNewsPenny StocksHealth CarePrice TargetSmall CapAnalyst RatingsMoversTrading IdeasGeneral

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