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Buy Rating for Ocugen Based on Promising OCU410 Study Progress and Geographic Atrophy Treatment Potential

Buy Rating for Ocugen Based on Promising OCU410 Study Progress and Geographic Atrophy Treatment Potential

Maxim Group analyst Michael Okunewitch maintained a Buy rating on Ocugen (OCGNResearch Report) yesterday and set a price target of $4.00.

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Michael Okunewitch has given his Buy rating due to a combination of factors including the promising progress of Ocugen’s OCU410 ArMaDa study. The completion of dosing in the Phase 2 portion of the study and the encouraging 9-month data from the Phase 1 part indicate potential effectiveness in treating geographic atrophy, a condition with a significant patient population.
OCU410 targets multiple pathways involved in dry age-related macular degeneration, which could offer enhanced efficacy over current treatments that focus on a single pathway. The potential for OCU410 to support a relatively small pivotal program if Phase 2 results are consistent with Phase 1, along with the high activity in the geographic atrophy treatment space, contributes to the significant upside potential. These elements combined suggest a strong future outlook for Ocugen, justifying the Buy rating.

In another report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $8.00 price target.

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