H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Ocular Therapeutix (NASDAQ: OCUL) today and set a price target of $10. The company’s shares closed yesterday at $7.91.
Selvaraju commented:
“We continue to believe that Dextenza has the potential to obtain regulatory approval in the U.S. by the end of 2018 and start generating revenue around mid-2019. The company plans to apply for a pass-through reimbursement status (C code) for Dextenza. With bundled pricing of cataract surgery, Dextenza should be priced above $480 per dose according to CMS guidelines, in our view. In the wake of this update, we reiterate our Buy rating and $10 price target.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 3.3% and a 41.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Ocular Therapeutix has an analyst consensus of Strong Buy, with a price target consensus of $13.67.
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The company has a one-year high of $11.64 and a one-year low of $3.30. Currently, Ocular Therapeutix has an average volume of 298.4K.
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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.
