Ocular Therapeutix price target raised to $11 from $9 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen raised the firm’s price target on Ocular Therapeutix to $11 from $9 and keeps a Buy rating on the shares after the company hosted an investor call discussing the interim 10-month data from the U.S. Phase 1 trial of OTX-TKI in wet age-related macular degeneration. Approximately 73% of subjects in the OTX-TKI arm were rescue-free up to month seven and continued to remain rescue-free up to month 10, which demonstrates a 92% reduction in treatment burden, the analyst tells investors in a research note. The firm says the data showing OTX-TKI’s durable efficacy are "highly encouraging, though investors need to be aware that this trial excludes patients with uncontrolled subretinal or intraretinal fluid at screening."