Jonathan Wolleben, an analyst from JMP Securities, reiterated the Buy rating on Ocular Therapeutix (OCUL – Research Report). The associated price target is $19.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors that highlight the potential of Ocular Therapeutix’s pipeline and financial stability. The recent amendments to the pivotal wet AMD program, specifically the Phase 3 SOL-1 trial, are expected to result in a more differentiated label, allowing for longer treatment intervals. This strategic change, although causing a slight delay in data release, is seen as beneficial in the long term by potentially accelerating the time to market for Axpaxli.
Furthermore, Ocular Therapeutix’s strong financial position, with $392 million in cash expected to support operations until 2028, provides a solid foundation for ongoing and future projects. Despite a temporary dip in share prices, Wolleben believes the amendments to the trials will not affect the primary endpoint assumptions, maintaining the probabilities of success. The potential for upside gains from these strategic decisions outweighs the short-term setbacks, justifying the Buy rating.
In another report released today, Raymond James also reiterated a Buy rating on the stock with a $19.00 price target.