Which Wet AMD Stock Would You Buy Right Now?

Shares of Ophthotech Corp OPHT tanked more than 80 percent on Monday after the company announced that the primary endpoint in two Phase 3 trials exploring its Fovista® therapy was not met.

Fovista is Ophthotech's therapy intended to be administered in combination with an anti VEGF agent for the for the treatment of patients newly diagnosed with wet AMD.

The clinical studies evaluated the safety and efficacy of 1.5 mg of Fovista administered in combination with Lucentis® compared to Lucentis mono therapy. The addition of Fovista to a monthly Lucentis regimen did not result in benefit as measured by the mean change in visual acuity at the 12-month time point.

Time To Buy Regeneron?

Benzinga held an informal Twitter poll asking readers what wet AMD stock they would consider buying now that many Wall Street analysts are pricing in zero probability of success for Ophthotech's Fovista.

Nevertheless, one in four respondents still selected Ophthotech as their top stock to buy in the wet AMD category.

Regeneron Pharmaceuticals Inc REGN emerged the clear winner from the poll, with two out of three readers saying they would buy the large cap biopharmaceutical company that operates in the wet AMD market.

In fact, the elimination of a potential threat from Ophthotech prompted analysts at Chardan Capital to upgrade the stock to Neutral from Sell with a price target boosted to $350 from a previous $300.

OHR Pharma

Finally, 9 percent of respondents indicated they would buy shares of OHR Pharmaceutical Inc OHRP, a nano-cap pharmaceutical company exploring its OHR-102 therapy, which is a non-invasive therapy to improve vision outcomes without requiring multiple injections per office visit.

Corey Davis of H.C. Wainwright commented in a research report on Tuesday that the market likely does not "have the stomach for another potential AMD combination drug," but this is already reflected in OHR Pharma's current $1.85 per share stock price.

The analyst added that his near-term view is driven "more by our belief that potential partners will be interested in the only active combination therapy in P3."