William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on OCUL stock, giving a Buy rating today.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors tied to Axpaxli’s performance in the SOL-1 trial and its implications for Ocular Therapeutix’s pipeline. He views the top-line wet AMD data as validating Axpaxli’s efficacy and durability, noting that the comparatively modest headline effect versus control was largely caused by stronger-than-expected outcomes in the control arm, while Axpaxli itself met expectations on key vision maintenance measures.
He further argues that supportive secondary and exploratory endpoints, including a high proportion of patients who would have remained rescue-free under SOL-R criteria, meaningfully reduce development risk for both the pivotal SOL-R study and the broader wet AMD and diabetic retinopathy programs. Despite the stock’s sharp premarket decline on the perceived effect-size shortfall, he regards the sell-off as excessive given the limited real-world relevance of the SOL-1 primary endpoint design, the favorable safety profile, and management’s intent to pursue an NDA filing based on these data, all of which underpin his positive view of the shares.
According to TipRanks, Hanbury Brown is a 4-star analyst with an average return of 16.9% and a 50.00% success rate. Hanbury Brown covers the Healthcare sector, focusing on stocks such as LENZ Therapeutics, Ocular Therapeutix, and Apellis Pharmaceuticals.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $28.00 price target.