Analyst Serge Belanger from Needham maintained a Buy rating on Ocular Therapeutix and keeping the price target at $20.00.
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Serge Belanger’s rating is based on Ocular Therapeutix’s strategic decision to expedite the regulatory filing for Axpaxli, which significantly accelerates its market entry timeline. By leveraging recent FDA changes that allow for a single registrational trial, the company plans to submit a New Drug Application (NDA) based on the 12-month data from the SOL-1 trial, moving up the expected filing by at least a year.
This strategic move positions Axpaxli ahead of its competitors, particularly EyePoint Pharmaceuticals’ Duravyu, in the race for market approval. While there are concerns about the initial limitations of the Axpaxli label due to the reliance on a single trial, the company anticipates that additional data from ongoing studies will eventually highlight the full potential of the drug. Overall, the accelerated timeline and competitive positioning are seen as positive developments, justifying the Buy rating.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OCUL in relation to earlier this year.