Iveric bio price target raised to $19 from $17 at B. Riley

B. Riley analyst Yuan Zhi raised the firm’s price target on Iveric bio to $19 from $17 and keeps a Neutral rating on the shares after the FDA accepted the Zimura application and granted priority review. Initially, the update of priority review with no FDA panel pushed Iveric shares up, which was further propelled by competitor’s Syfovre’s approval. However, following the release of Syfovre’s label, Iveric stock dropped to $21, likely due to favorable label language approved by the FDA, the analyst tells investors in a research note.