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Fly News Breaks for June 21, 2019
Jun 21, 2019 | 13:54 EDT
JMP Securities analyst Donald Ellis reiterates a Market Outperform rating and $9 price target on Ocular Therapeutix after the FDA approved Dextenza's sNDA for treating ocular inflammation following ophthalmic surgery, roughly five months earlier than expected. In a research note to investors, Ellis says he believes Dextenza will launch with both pain and inflammation indications and forecasts about $12M of Dextenza sales in 2019, with a majority coming in the fourth quarter. Ocular has been "firing on all cylinders" since Dextenza was approved for both pain and inflammation and securing a C-code and a T-code.
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