MLV Reiterates Buy On Lpath Following 3Q Earnings Update


In a research report sent to investors today, MLV analyst Arlinda Lee reiterated a Buy rating on Lpath Inc (NASDAQ:LPTN) with a $11 price target, following the company’s third-quarter results, posting EPS of ($0.20), vs. MLV’s estimate of ($0.33). The Company ended the September quarter with $20.5 million in cash, up from $14.3 million at June 30, 2014 due to an $11.5 million capital raise in September.

Lee noted, “Our $11 PT is based on a DCF taken out to 2028, using a 30% discount rate and 5% terminal growth. Risks include: negative iSONEP P2 data in mid 2015, Pfizer not exercising its iSONEP collaboration rights (or failure of a third party to assume those rights), and any dilutive financings.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Arlinda Lee has a total average return of -3.3% and a 40.0% success rate. Lee is ranked #2650 out of 3369 analysts.