Ocular Therapeutix price target lowered to $20 from $22 at Scotiabank

Scotiabank lowered the firm’s price target on Ocular Therapeutix (OCUL) to $20 from $22 and keeps an Outperform rating on the shares. While the read out for the SOL-R trial is now further than expected, the firm continues to remain confident in the wet age-related macular degeneration, wAMD, program and believes the company’s pursuit of a superiority label with Eylea can set up Axpaxli for commercial success, the analyst tells investors. The firm updated its price target to reflect the updated timeline expectations for Axpaxili.