On Wednesday, Piper Sandler reaffirmed an Overweight rating with a $15.00 price target on Ocular Therapeutix (NASDAQ:OCUL) stock, traded on NASDAQ:OCUL. The endorsement arrives following a review of competitor data presented at the American Society of Retina Specialists (ASRS) annual meeting earlier the same day.
The analyst from Piper Sandler highlighted Ocular Therapeutix's Axpaxli as having a superior profile when compared to other emerging competitors. The statement was made after assessing new data from EyePoint Pharmaceuticals (NASDAQ:EYPT)' DAVIO 2 trial, Forma Therapeutics' PRISM trial, and Adverum Biotechnologies (NASDAQ:ADVM)' LUNA trial, all of which were disclosed at the ASRS meeting.
The focus for investors, according to the firm, will likely shift to Forma Therapeutics' gene therapy program. However, the analyst noted that the gene therapy sector must still demonstrate long-term effectiveness. This scrutiny comes as the market evaluates the potential of various treatment options in the ophthalmology space.
Ocular Therapeutix's Axpaxli is being closely watched by investors and industry experts for its potential to stand out in a competitive landscape. The reaffirmed Overweight rating and steady price target suggest confidence in the company's prospects amid the evolving market dynamics.
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