Baird analyst Colleen Kusy last night initiated coverage of Ocular Therapeutix with an Outperform rating and $18 price target. Ocular’s OTX-TKI has shown "robust" Phase 1 data in reducing the treatment burden and keeping a high percentage of wet age-related macular degeneration patients VEGF-free at 10 months, the analyst tells investors in a research note. The firm believes OTX-TKI could offer a meaningfully longer treatment interval and take share in wet AMD, a "massive market." It also sees "strong rationale" in diabetic retinopathy, another potentially multi-billion-dollar market.
Published first on TheFly
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