Fly News Breaks for March 4, 2020
Mar 4, 2020 | 16:05 EDT
Piper Sandler analyst Joseph Catanzaro raised the firm's price target on Ocular Therapeutix to $11 from $7 and reiterates an Overweight rating on the shares. The stock closed the trading day up 32%, or $1.76, to $7.22. Following a closer look at initial OTX-TKI data, the analyst is more confident that OTX-TKI and the hydrogel platform "have clear value in retinal diseases." While just the initial look in a small cohort, there are multiple signs of durable clinical activity that notably compare favorably to anti-VEGF therapies, Catanzaro tells investors in a research note.
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