Ocular Therapeutix (OCUL) PT Raised to $19 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen raised the price target on Ocular Therapeutix (NASDAQ: OCUL) to $19.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "Ocular Therapeutix previously reported that the FDA had granted a Special Protocol Assessment (SPA) for the planned registrational program of AXPAXLI for the treatment of non-proliferative diabetic retinopathy (NPDR). The design of two Phase 3 superiority trials in NPDR, HELIOS-2 and HELIOS-3, was highlighted during the company’s investor day last week. Specifically, HELIOS-2 is a two-arm superiority trial (n=432, randomized 1:1). The study aims to evaluate a single AXPAXLI injection compared to a single ranibizumab (0.3mg) injection, with a 52-week primary endpoint. Subjects would be re-treated at Week 52, then followed for safety until the end of Year 2. HELIOS-3 is a three-arm superiority trial (n=930, randomized 1:1:1). The study aims to compare two dosing regimens of AXPAXLI to sham, with a 52-week primary endpoint. In the wake of this update, we update our model with potential sales of AXPAXLI in NPDR. Our current estimated market value of the firm is $3.97B, or $19 per share. Therefore, we reiterate our Buy rating while raising our 12-month price target to $19 from $15 per share."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
• Jane Street Took $15 Billion Hit In July Tied To Situational Awareness - Reuters