William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on OCUL stock, giving a Buy rating on September 15.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding Ocular Therapeutix’s strategic initiatives and clinical developments. The company recently hosted an investor day where it highlighted the promising progress of its SOL-1 and SOL-R studies for Axpaxli, a treatment for wet age-related macular degeneration, and introduced plans for pivotal studies in nonproliferative diabetic retinopathy. The execution of the SOL-1 study is particularly noteworthy, with high patient retention and adherence to protocol, and no new safety concerns identified by the Data Safety Monitoring Board.
Additionally, Ocular Therapeutix has announced a significant secondary offering to raise $475 million, which will fund ongoing and new studies, manufacturing scale-up, and precommercial activities, ensuring financial stability through 2028. The company’s innovative approach in its Phase III HEALIOS program, utilizing a novel endpoint and trial designs, aims to secure a broad superiority label in diabetic retinopathy, potentially including diabetic macular edema. These strategic moves and strong clinical execution underpin the Buy rating, reflecting confidence in the company’s growth prospects and commercial potential.
According to TipRanks, Hanbury Brown is a 4-star analyst with an average return of 24.0% and a 72.73% success rate. Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Harrow Health, and Ocular Therapeutix.
In another report released on September 15, Chardan Capital also initiated coverage with a Buy rating on the stock with a $21.00 price target.