H.C. Wainwright Lifts PT on Ocular Therapeutix (OCUL) to $19 From $15, Keeps a Buy Rating

Ocular Therapeutix Inc. (NASDAQ:OCUL) is one of the best healthcare stocks with the highest upside. Ocular Therapeutix Inc. (NASDAQ:OCUL) received a rating update from H.C. Wainwright on October 8. The firm raised its price target on the stock to $19 from $15 and maintained a Buy rating on the shares.

The price target increase came after Ocular Therapeutix Inc. (NASDAQ:OCUL) announced that the FDA granted a Special Protocol Assessment (SPA) for its planned registrational program of AXPAXLI for the treatment of non-proliferative diabetic retinopathy (NPDR).

Ocular Therapeutix Inc. (NASDAQ:OCUL) reported on its investor day the design of HELIOS-2 and HELIOS-3, which are two Phase 3 superiority trials in NPDR.

HELIOS-2 is a two-arm superiority trial focused on the evaluation of a single AXPAXLI injection compared to a single ranibizumab injection, while HELIOS-3 is a three-arm superiority trial comparing two dosing regimens of AXPAXLI to sham.

The firm told investors that it updated its model to take into account the potential sales of AXPAXLI in NPDR, expecting the firm’s market value at $3.97 billion, or $19 per share.

Ocular Therapeutix Inc. (NASDAQ:OCUL) is a biopharmaceutical company that develops and commercializes therapies for conditions and diseases related to the eye. The company’s product pipeline includes Dextenza, OTX-TP, and OTX-TIC.

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Disclosure: None. This article is originally published at Insider Monkey.