Analyst Jonathan Wolleben of JMP Securities reiterated a Buy rating on Ocular Therapeutix (OCUL – Research Report), with a price target of $12.00.
Geoff Meacham has given his Buy rating due to a combination of factors related to Ocular Therapeutix’s recent developments in its Phase 3 clinical trial for axpaxli. The FDA’s agreement to amend the Special Protocol Assessment (SPA) is a significant positive step, as it is expected to accelerate patient enrollment by broadening the eligibility criteria. Additionally, the evaluation of an optimized axpaxli insert is seen as a strategic move to enhance the drug’s release profile, which could improve its long-term utility and ease of redosing.
The analyst’s confidence is further bolstered by the high probability of success attributed to axpaxli, considering its unique design and durability advantage over its competitor, Eylea. The amendments to the SPA are anticipated to not only speed up the enrollment process but also potentially increase the drug’s efficacy and market differentiation. The FDA’s endorsement of these changes has shifted the focus towards the expected timeline for data release, the likelihood of successful trial outcomes, and the potential market impact, where axpaxli’s durability is predicted to be a key driver in its Phase 3 success and future adoption.
According to TipRanks, Wolleben is a 5-star analyst with an average return of 12.6% and a 42.90% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as Clearside Biomedical, Mirum Pharmaceuticals, and Rallybio.
In another report released on January 18, Piper Sandler also maintained a Buy rating on the stock with a $10.00 price target.
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Ocular Therapeutix (OCUL) Company Description:
Ocular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline include Dextenza, OTX-TP, and OTX-TIC . The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
Read More on OCUL:
- Summer Road raises Ocular Therapeutix stake by $5.0M
- Ocular Therapeutix™ Announces Closing of Public Offering of Common Stock and Full Exercise by Underwriters of Option to Purchase Additional Shares
- Ocular Therapeutix 30.8M share Spot Secondary priced at $3.25
- Ocular Therapeutix™ Announces Pricing of Public Offering of Common Stock
- Ocular Therapeutix $100M Spot Secondary; re-offered at $3.25
