Doctor survey shows Allergan could be big player in wet-AMD: Deutsche Bank

Deutsche Bank analyst Gregg Gilbert says his survey of 30 ophthalmologists that treat wet age-related macular degeneration suggests Allergan could be a meaningful player in the market. Abicipar is one of Allergan’s most important pipeline assets, but the Street seems lukewarm on the drug, as evidenced by the stock reaction after the company reported Phase 3 results on July 19, Gilbert tells investors in a research note titled “Abicipar survey: Docs more bullish than Street.” He notes the doctors surveyed like the fixed 12 week dosing of abicipar and that despite the inflammation hurdle, they predict significant share for abicipar of their wet-AMD patients. Gilbert keeps a Buy rating on Allergan with a $210 price target.
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