Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Raymond James Upgrades QLT to 'Outperform'

Raymond James upgraded QLT (QLTI) to outperform.

Analyst Brian Bapty says he upgraded Canadian drugmaker QLT from market perform to reflect recent price weakness and disappointing data from EyeTech Pharmaceuticals. The stock was higher Monday after study results released Friday showed that Macugen -- the nearest-to-market competitive threat to QLT's Visudyne -- is no more effective in treating wet age-related macular degeneration, a type of eye disease that contributes to age-related blindness.

Bapty goes further to say that Macugen, which is being developed by EyeTech and Pfizer, is sub-optimal to Visudyne. Thus, he reaffirmed his current outlook and financial forecasts for QLT. He says the Macugen study is biased for a better outcome, vs. a recent QLT study -- suggesting an imperfect comparison. Also, at increasing doses, Macugen's benefit was diminished and the treatments much more frequent.

blog comments powered by Disqus