Analyst Tazeen Ahmad of Bank of America Securities maintained a Buy rating on Ocular Therapeutix (OCUL – Research Report), with a price target of $15.00.
Tazeen Ahmad has given his Buy rating due to a combination of factors including strategic management changes and financial developments at Ocular Therapeutix. The appointment of several industry and retinal specialist leaders to key positions such as Executive Chairman and Chief Scientific Officer is anticipated to fast-track the clinical development of Axpali for retinal conditions. Ahmad perceives this reinvigorated leadership as essential for cultivating Axpali into a groundbreaking therapy, given the encouraging data supporting its efficacy so far.
Furthermore, Ocular Therapeutix’s recent private placement of $325 million is seen as a significant positive by Ahmad, as it is expected to expedite the clinical development of Axpali in wet age-related macular degeneration (wAMD) and diabetic retinopathy. The company’s trial design for wAMD, which demonstrates a high retention of vision in patients treated with Axpali compared to the standard treatment, coupled with a special protocol assessment that broadens patient eligibility, instills confidence in the potential successful outcome of the trials. These elements collectively justify Ahmad’s Buy rating and a price objective of $15.00 for Ocular Therapeutix’s stock.
In another report released on February 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.
OCUL’s price has also changed dramatically for the past six months – from $3.900 to $9.700, which is a 148.72% increase.
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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:
- Ocular Therapeutix, Inc. Announces $325.0 Million Private Placement
- Ocular Therapeutix Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) to Newly Appointed Executive Chairman and Chief Strategy Officer
- Ocular Therapeutix Raises $325M in Strategic Equity Financing
- Ocular Therapeutix™ Appoints Steve Meyers to Chief Commercial Officer
- Ocular Therapeutix appoints Meyers to Chief Commercial Officer
