Cantor Fitzgerald Sticks to Its Buy Rating for Ocular Therapeutix

In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Ocular Therapeutix (NASDAQ: OCUL), with a price target of $22. The company’s shares opened today at $6.73.

Piros commented:

“Before Year-End. Ocular remains confident in its ability to resubmit its NDA for DEXTENZA in 2Q18, which sets up a potential PDUFA before year-end. Currently, the company is working towards completing on-going manufacturing runs and conducting mock inspections of the manufacturing facility. Overall, we are encouraged by the company’s efforts to upgrade the manufacturing process and improve the quality control system, not only for DEXTENZA, but also the overall sustained drug delivery platform.”

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -4.1% and a 47.6% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Ocular Therapeutix has an analyst consensus of Strong Buy, with a price target consensus of $13.67.

See today’s analyst top recommended stocks >>

Based on Ocular Therapeutix’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $13.1 million. In comparison, last year the company had a GAAP net loss of $16.02 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ocular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its products include dextenza, sustained release travopost, and posterior segment injections. The company was founded by Amarpreet S.