In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Ocular Therapeutix (OCUL), with a price target of $12. The company’s shares closed yesterday at $5.73.
“Our price target is derived from a market value of the firm at $573M, which includes a discounted cash flow-based asset value of $580M for DEXTENZA, OTX-TP and ReSure, and excludes projected debt position of $7M at the end of 2019, using a 15% discount rate and 2% terminal growth rate, and assuming 47.7M shares outstanding at the end of 2019. Probabilities of success ascribed to post-surgical ocular pain and inflammation, allergic conjunctivitis and glaucoma are 100%, 40% and 40%, respectively.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.1% and a 27.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ocular Therapeutix with a $13.83 average price target, implying a 141.4% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $24 price target.
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The company has a one-year high of $8.28 and a one-year low of $3.84. Currently, Ocular Therapeutix has an average volume of 462.7K.
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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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