JMP Securities Initiates Coverage on Lpath (LPTN)
Investment analysts at JMP Securities began coverage on shares of Lpath (NASDAQ:LPTN) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $14.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 191.06% from the stock’s previous close.
The analysts wrote, “We are initiating coverage on Lpath with a Market Outperform rating and establishing a $14 price target based on a probability-adjusted Net Present Value calculation. Lpath is developing two lipid-targeting antibodies, iSONEP for eye disease, and ASONEP for kidney cancer, with iSONEP holding under-appreciated value, in our view.”
Shares of Lpath (NASDAQ:LPTN) traded up 1.66% during mid-day trading on Tuesday, hitting $4.8899. 7,064 shares of the company’s stock traded hands. Lpath has a 52-week low of $3.87 and a 52-week high of $7.01. The stock’s 50-day moving average is $5.76 and its 200-day moving average is $5.25. The company’s market cap is $64.3 million.
Lpath, Inc is a biotechnology company focused on the discovery and development of lipidomic-based therapeutics, an emerging field of medical science whereby bioactive lipids are targeted to treat human diseases.
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