IVERIC Bio Stock (ISEE:NSD) Analysis:
Last Closing Price:Â $23.62
Consensus Analyst Rating:Â Buy
12-Month Price Target: $26.83
Market CAP:Â $2.60 Billion
IVERIC Bio stock (ISEE:NSD) down 2.67% after-hours following the biopharmaceutical company’s pricing of an upsized underwritten public offering of 13,350,000 shares of its common stock at $22.50 per share for estimated gross revenues of $300.4 million.
The underwriters are allowed a 30-day option to purchase up to 2,002,500 additional shares of common stock at the public offering price.
The entire share supply is being offered by the corporation.
The closing of the offering is anticipated around December 5, 2022.
IVERIC launched a $250 million stock sale earlier.
ISEE Stock-Analyst Ratings:
Jefferies Financial LLC downgraded the ISEE stock price target from $30 to $20 and rates it as “Hold”.
HC Wainwright maintains the ISEE stock price target of $35 and rates it as “Buy”.
About IVERIC Bio Inc. (ISEE:NSD):
IVERIC bio, Inc., a biopharmaceutical company, discovers and develops novel treatments for retinal diseases with a focus on age-related and orphan inherited retinal diseases (IRDs).
The company develops Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; and GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD).
Its discovery and research programs include miniCEP290 program for LCA10; miniABCA4 Program for STGD1; and miniUSH2A Program for usher syndrome type 2A-Related IRDs. The company was formerly known as Ophthotech Corporation and changed its name to IVERIC bio, Inc. in April 2019. The company was incorporated in 2007 and is based in Parsippany, New Jersey.
