Cantor Fitzgerald analyst Kristen Kluska initiated coverage of Outlook Therapeutics with an Overweight rating and $4 price target. The firm recommends buying shares ahead of the summer PDUFA action date of August 29 for LYTENAVA for wet age-related macular degeneration, as it could become the first FDA-approved ophthalmic formulation of bevacizumab for retinal disorders, the analyst tells investors in a research note. The firm thinks LYTENAVA could change the physician-prescribing paradigm given that Avastin is currently the most widely used wAMD treatment, and feels that even limited penetration into this market could still equate to significant revenue opportunities for Outlook.
Published first on TheFly
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