Oculis price target raised to $31 from $23 at BofA

BofA raised the firm’s price target on Oculis (OCS) to $31 from $23 and keeps a Buy rating on the shares. The company reported Phase 2 results from the ACUITY trial, which evaluated safety and efficacy of short-term OCS-05 therapy in patients with AON – acute optic neuritis – and in the firm’s view, the study helped establish OCS-05 can be dosed safely while also showing “promising efficacy”, the analyst tells investors in a research note. Oculis next plans to meet with regulators to chart a development path, which will likely entail a single, pivotal trial for the rare ocular condition that can lead to permanent visual impairment, the firm added, also boosting its modeled AON contribution to $330M from $10M on higher assumed probability of success.