Oculis Price Target Increased by BofA Following Promising Phase 2 Trial Results

BofA has increased the price target for Oculis (OCS) from $23 to $31, while keeping a Buy rating on the shares. This adjustment follows the company's announcement of Phase 2 results from the ACUITY trial, which assessed the safety and efficacy of short-term OCS-05 therapy in patients suffering from acute optic neuritis (AON). According to BofA, the trial has successfully established that OCS-05 can be dosed safely and has shown promising efficacy.

Oculis is now planning to meet with regulators to outline a development path, which is expected to include a single, pivotal trial for this rare ocular condition that can result in permanent visual impairment. Following these developments, BofA has also boosted its modeled AON contribution from $10M to $330M, reflecting a higher assumed probability of success.