Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Ocular Therapeutix (OCUL) today and set a price target of $24. The company’s shares opened today at $4.38.
Piros noted:
“. We reiterate our Overweight rating and 12-month price target of $24 on 4Q18/2018 earnings results. Our top focus for 2019 will be measuring the DEXTENZA launch (sampling expected to begin in May, followed by a formal launch by July).”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -4.3% and a 41.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.
Ocular Therapeutix has an analyst consensus of Moderate Buy, with a price target consensus of $12, implying a 174.0% upside from current levels. In a report issued on February 21, H.C. Wainwright also reiterated a Buy rating on the stock with a $12 price target.
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Based on Ocular Therapeutix’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.01 million. In comparison, last year the company had a GAAP net loss of $13.1 million.
Based on the recent corporate insider activity of 6 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.
