Cantor Fitzgerald Reiterates Overweight on Ocular Therapeutix (OCUL) Following 1Q

Cantor Fitzgerald reiterated an Overweight rating and $22.00 price target on Ocular Therapeutix (NASDAQ: OCUL) following the company's 1Q earnings report. Management reported a 1Q18 year-end cash and equivalents balance of $63 million, which analyst Elemer Piros believes provides a cash runway beyond a potential NDA decision for DEXTENZA in 2H18 and through 1Q19.

Ocular hosted a conference call to review its quarterly progress and reiterated its guidance to resubmit its application for DEXTENZA in 2Q18. While Ocular announced a delay for its Phase 3 readout with OTX-TP in glaucoma to 1H19 (previously 2H18), Cantor Fitzgerald remains focused on the DEXTENZA franchise, which accounts for the majority of the valuation.

For an analyst ratings summary and ratings history on Ocular Therapeutix click here. For more ratings news on Ocular Therapeutix click here.

Shares of Ocular Therapeutix closed at $6.73 yesterday.

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