Ocular Therapeutix price target raised to $29 from $20 at Citizens JMP

Citizens JMP analyst Jonathan Wolleben raised the firm’s price target on Ocular Therapeutix (OCUL) to $29 from $20 and keeps an Outperform rating on the shares. New details on a derisked pivotal program in Nonproliferative Diabetic Retinopathy allows value to be ascribed to the potential blockbuster opportunity while the wet AMD pivotal readouts will drive near-term value creation, the analyst tells investors in a research note.