William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on OCUL stock, giving a Buy rating on August 6.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding Ocular Therapeutix’s strategic advancements and market potential. The company has achieved a significant milestone by securing a special protocol assessment (SPA) from the FDA for its Axpaxli trial in nonproliferative diabetic retinopathy (NPDR), indicating strong regulatory alignment and a clear path forward for this indication.
Diabetic retinopathy presents a substantial market opportunity, with millions affected in the U.S. alone, yet current treatment options are limited by significant burdens. Axpaxli has shown promising efficacy in early trials, potentially offering a more convenient treatment regimen. Additionally, upcoming catalysts, such as the Phase III SOL-1 study results and further development plans for Axpaxli, are expected to drive stock performance, supporting the Buy rating.
In another report released on August 6, H.C. Wainwright also reiterated a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 32 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.