Cantor Fitzgerald analyst Elemer Piros raised his price target on Ocular Therapeutix (NASDAQ: OCUL) to $22.00 (from $21.00) while maintaining a Overweight rating, saying the company is preparing for a 'momentous 2018'.

Piros commented, "Ocular hosted a conference call to review its quarterly progress and reiterated its guidance to resubmit its application for DEXTENZA in 1H18. Based on these timelines, Ocular expects a decision from the FDA by YE2018. In addition, Ocular continues to anticipate readout of its Phase 3 OTX-TP study in glaucoma in 4Q18. In January, the company raised $37 million additional capital, which we believe provides a cash runway through 1Q19, well beyond these two potential inflection points."