Lpath, Inc. (LPTN) Bullish Stance Reiterated at MLV
Lpath, Inc. (NASDAQ:LPTN) has been reiterated as a Buy at MLV by research analyst Arlinda Lee. The analyst also maintained a price target of $11 per share, which implies an upside of 336.5% from current levels.
Lee wrote, "LPTN shares have sold off since announcement that its Ph. 2a ASONEP trial in advanced Renal Cell Cancer (RCC) failed to meet its primary endpoint of progression-free survival (PFS) at 2 months in 25/39 patients. We think the reaction is overdone since the bulk of our valuation is derived from Ph. 2 candidate iSONEP for Wet AMD, and we would look for iSONEP Phase 2 topline data in 2Q15 followed by Pfizer option decision in 3Q."
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 -0.8% and a 31.0% success rate. Lee has a -9.2% average return when recommending LPTN, and is ranked #2770 out of 3550 analysts.