Ocular Therapeutix (OCUL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $15.00 price target.
Yi Chen has given his Buy rating due to a combination of factors surrounding Ocular Therapeutix’s recent developments and financial performance. The company reported a 15% year-over-year revenue growth in the fourth quarter of 2024, surpassing expectations, despite a higher-than-anticipated net loss. This positive revenue trajectory is a promising indicator of the company’s potential for future growth.
Additionally, the amendment of the Special Protocol Agreement for the Phase 3 SOL-1 trial, which now includes re-dosing, is a strategic move that could accelerate the path to a new drug application submission. This amendment, along with the completion of subject enrollment and randomization, strengthens the trial’s design and enhances its potential for success. The reduction in the SOL-R trial size further supports a more efficient timeline, which is favorable for the company’s prospects. These strategic developments, coupled with the company’s robust trial retention and adherence to pre-specified criteria, underpin Yi Chen’s confidence in maintaining a Buy rating with a price target of $15.
Chen covers the Healthcare sector, focusing on stocks such as OKYO Pharma Limited Sponsored ADR, AngioDynamics, and Veru. According to TipRanks, Chen has an average return of -17.5% and a 29.90% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $19.00 price target.