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Investing.com - H.C. Wainwright raised its price target on Ocular Therapeutix (NASDAQ:OCUL) to $19.00 from $15.00 on Wednesday, while maintaining a Buy rating on the stock. The company’s shares, currently trading at $11.52, have shown remarkable momentum with a 91% surge over the past six months. According to InvestingPro data, analyst targets for OCUL range from $14 to $31.
The price target increase follows Ocular Therapeutix’s announcement that the FDA granted a Special Protocol Assessment (SPA) for its planned registrational program of AXPAXLI for treating non-proliferative diabetic retinopathy (NPDR).
During its investor day last week, Ocular Therapeutix outlined the design of two Phase 3 superiority trials in NPDR, named HELIOS-2 and HELIOS-3. HELIOS-2 is a two-arm superiority trial with 432 participants randomized 1:1, evaluating a single AXPAXLI injection compared to a single ranibizumab injection, with a 52-week primary endpoint.
HELIOS-3 is designed as a three-arm superiority trial with 930 participants randomized 1:1:1, comparing two dosing regimens of AXPAXLI to sham, also with a 52-week primary endpoint.
H.C. Wainwright updated its model to include potential sales of AXPAXLI in NPDR, estimating the firm’s market value at $3.97 billion, or $19 per share.
In other recent news, Ocular Therapeutix has priced a significant common stock offering, raising approximately $475 million in gross proceeds. The offering involves 37,909,018 shares priced at $12.53 each and is expected to close by October 1, 2025. This development is supported by BofA Securities, TD Cowen, and Piper Sandler & Co., among others. Meanwhile, the company provided updates on its AXPAXLI clinical trials, particularly the SOL-1 trial for wet age-related macular degeneration, which has shown high patient retention and no new safety concerns. Topline results for this trial are anticipated in the first quarter of 2026. In related developments, Piper Sandler has increased its price target for Ocular Therapeutix to $31, maintaining an Overweight rating due to optimism surrounding the company’s Phase 3 clinical trials. Similarly, Citizens JMP has raised its price target to $29, citing confidence in the management’s execution and innovation capabilities. These updates reflect ongoing progress and investor interest in Ocular Therapeutix’s clinical trials and financial activities.
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