Ocular Therapeutix Downgraded To Neutral From Buy At H.C. Wainwright

H.C. Wainwright analyst Yi Chen downgraded Ocular Therapeutix (OCUL) to Neutral from Buy without a price target. The analyst cites valuation and "near-term market uncertainty" for the downgrade.

Dextenza could obtain approval in allergic conjunctivitis in October 2021 and the drug may be used primarily to treat 10%-15% of the AC patients that are not adequately controlled with current therapy, Chen tells investors in a research note. However, since Ocular's common stock has been trading at over $22 per share in recent days, the potential approval in AC has already been priced in, says the analyst.

In addition, the "unrelenting resurgence" of COVID-19 and the limited proportion of the population vaccinated with vaccines thus far in the U.S. may curb the growth of Dextenza sales in 2021, Chen contends.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.