Ocular Therapeutix price target raised to $28 from $21 at Clear Street

Clear Street raised the firm’s price target on Ocular Therapeutix (OCUL) to $28 from $21 and keeps a Buy rating on the shares after the company presented detailed data from the SOL-1 superiority trial in wet age-related macular degeneration. The efficacy data was “consistently positive” and bolstered the claim that Axpaxli “offers durable control of wAMD,” the analyst tells investors in a research note. Clear believes Axpaxli is a “major improvement” in the largest unmet need of dosing interval in a $14B global wet AMD market, with “clean” safety and tolerability.