In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Ocular Therapeutix (NASDAQ: OCUL), with a price target of $10. The company’s shares closed yesterday at $6.43.
According to TipRanks.com, Selvaraju is a 2-star analyst with an average return of 1.0% and a 41.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on Ocular Therapeutix is a Strong Buy with an average price target of $13.67, an 112.6% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $22 price target.
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Based on Ocular Therapeutix’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $13.77 million. In comparison, last year the company had a GAAP net loss of $18.69 million.
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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.