These Analysts Boost Their Forecasts On Ocular Therapeutix After Q4 Results
Portfolio Pulse from Avi Kapoor
Ocular Therapeutix, Inc. (NASDAQ:OCUL) reported Q4 financial results below market expectations, with a GAAP loss of 35 cents per share against an estimated 30 cents, and sales of $14.802 million versus the expected $15.707 million. Despite this, analysts from JMP Securities and TD Cowen raised their price targets for OCUL, citing progress in its Phase 3 SOL-1 study and successful financings. OCUL shares fell 6.7% to $9.08 following the announcement.
March 12, 2024 | 4:42 pm
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NEUTRAL IMPACT
Ocular Therapeutix reported lower-than-expected Q4 results but saw price target increases from analysts, indicating confidence in its future, particularly in its Phase 3 SOL-1 study and financing achievements.
Despite the short-term negative impact of the earnings miss, as evidenced by a 6.7% drop in share price, the increased price targets from JMP Securities and TD Cowen suggest a positive outlook from analysts. This could indicate a belief in the company's long-term potential, especially with its focus on retinal disease and successful financing rounds. However, the immediate reaction to the earnings report was negative, leading to a neutral short-term score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100