After Cantor Fitzgerald and H.C. Wainwright assigned a Buy rating to Ocular Therapeutix in the last month, the company received another Buy, this time from BTIG. Analyst Dane Leone reiterated a Buy rating on Ocular Therapeutix (NASDAQ: OCUL) yesterday and set a price target of $9. The company’s shares closed yesterday at $6.73.
Leone wrote:
“On Tuesday, after mkt close, Ocular Therapeutix hosted their 1Q18 earnings call. Management continues to work on the NDA for Dextenza with confidence that a resubmission will occur in the latter part of 2Q18. Although the timeline of the resubmission remains on track, we note that as the resubmission is being pushed later in the 2Q, it leaves less breathing room for a FDA approval by YE2018 given the 6-month review clock that starts once the resub occurs. We reiterate our Buy rating and $9 PT.”
According to TipRanks.com, Leone is a 5-star analyst with an average return of 18.3% and a 69.4% success rate. Leone covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Vertex Pharmaceuticals, and Blueprint Medicines.
Currently, the analyst consensus on Ocular Therapeutix is Strong Buy and the average price target is $13.67, representing a 103.1% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $22 price target.
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The company has a one-year high of $11.79 and a one-year low of $3.30. Currently, Ocular Therapeutix has an average volume of 338.9K.
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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 products include dextenza, sustained release travopost, and posterior segment injections.
