Ocular Therapeutix, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities maintained a Buy rating on the stock and has a $18.00 price target.
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Tazeen Ahmad has given his Buy rating due to a combination of factors, primarily focusing on the potential for an accelerated launch of Axpaxli, a treatment for wet age-related macular degeneration (wAMD). Recent guidance from the FDA suggests that a single study may suffice for regulatory approval, allowing Ocular Therapeutix to proceed with their new drug application based on the results of the phase 3 SOL-1 trial, expected in the first quarter of 2026. This strategic move could expedite the drug’s market entry, presenting a significant opportunity for the company.
Furthermore, the company’s management has already engaged with the FDA’s Ophthalmology division, expressing confidence that the SOL-1 trial, which includes a special protocol agreement, meets the necessary criteria for approval. This proactive approach and the potential to file using a single trial indicate an upside risk, justifying the Buy rating. The current stock price of $12.58, with a price objective of $18.00, reflects the anticipated positive impact of these developments on the company’s valuation.
Ahmad covers the Healthcare sector, focusing on stocks such as Incyte, Ascendis Pharma, and Neurocrine. According to TipRanks, Ahmad has an average return of 4.3% and a 56.16% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $21.00 price target.