Cantor Fitzgerald Sticks to Their Buy Rating for Ocular Therapeutix (OCUL)


Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Ocular Therapeutix (OCUL) today and set a price target of $22. The company’s shares opened today at $5.41.

Piros observed:

“We rate Ocular Therapeutix (OCUL) 12-month price target of $22 per share. Ocular focuses on a platform of sustained drug-delivered therapies for the treatment of ocular diseases and conditions. Ocular’s lead development product, DEXTENZA, is an intracanalicular dexamethasone insert therapy for the treatment of post-surgical ocular pain. We believe Ocular could receive FDA approval in 2018. Valuation Summary We arrive at our 12-month price target of $22/share by assessing the after-tax, risk- adjusted NPV of future cash flows from DEXTENZA.”

According to TipRanks.com, Piros is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.5% and a 37.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ocular Therapeutix with a $13.75 average price target.

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The company has a one-year high of $8.28 and a one-year low of $3.30. Currently, Ocular Therapeutix has an average volume of 406K.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCUL in relation to earlier this year.

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Ocular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline include Dextenza, OTX-TP, and OTX-TIC . The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.

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