H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Ocular Therapeutix today and set a price target of $19.00.
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Yi Chen’s rating is based on several promising developments in Ocular Therapeutix’s clinical trials. The initiation of patient randomization in the HELIOS-3 trial for AXPAXLI, aimed at treating non-proliferative diabetic retinopathy (NPDR), marks a significant milestone. This trial, along with the HELIOS-2 study, is designed to assess the safety and efficacy of AXPAXLI, with the potential to offer a treatment option with extended dosing intervals, which could enhance market adoption given the current treatment burdens.
Furthermore, the ongoing SOL-1 trial in wet age-related macular degeneration (AMD) is progressing well, with high retention rates and no safety concerns identified by the monitoring committee. The potential for AXPAXLI to achieve a superiority claim over existing treatments like aflibercept adds to its appeal. These factors contribute to Yi Chen’s confidence in the company’s prospects, supporting the Buy rating and a price target of $19.
Chen covers the Healthcare sector, focusing on stocks such as RegenXBio, Formycon AG, and VolitionRX. According to TipRanks, Chen has an average return of -8.0% and a 39.24% success rate on recommended stocks.