Ocular Therapeutix price target raised to $12 from $10 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen raised the firm’s price target on Ocular Therapeutix to $12 from $10 and keeps a Buy rating on the shares. The OTX-TKI 12-month data demonstrated 89% reduction in treatment burden for wet age-related macular degeneration, the analyst tells investors in a research note. The firm believes the data support further development of OTX-TKI as a maintenance therapy for wet AMD patients with well controlled subretinal or intraretinal fluid by prior anti-VEGF therapies.