Ocular Therapeutix Management
Management criteria checks 2/4
Ocular Therapeutix's CEO is Pravin Dugel, appointed in Apr 2024, has a tenure of 2.17 years. total yearly compensation is $35.95M, comprised of 2.3% salary and 97.7% bonuses, including company stock and options. directly owns 0.34% of the company’s shares, worth $6.66M. The average tenure of the management team and the board of directors is 2.2 years and 7 years respectively.
Key information
Pravin Dugel
Chief executive officer
US$35.9m
Total compensation
| CEO salary percentage | 2.28% |
| CEO tenure | 2.2yrs |
| CEO ownership | 0.3% |
| Management average tenure | 2.2yrs |
| Board average tenure | 7yrs |
Recent management updates
Recent updates
Analysis Article • Jun 17
Ocular Therapeutix (OCUL) Stock Could Be 65.6% Undervalued on the AXPAXLI Narrative
Ocular Therapeutix (OCUL) continues to draw attention after recent share price moves, with the stock last closing at $8.94. Investors are evaluating its clinical pipeline, hydrogel technology and mixed short term return profile. See our latest analysis for Ocular Therapeutix. While Ocular Therapeutix shares are currently at $8.94 and have risen over the past week, the stock is still down year to date, even though the 1 year and 3 year total shareholder returns are positive. This may indicate...
Narrative Update • Jun 05
OCUL: Upcoming Investor Day And NDA Plan Will Drive Retinal Upside
Analysts have kept their price target for Ocular Therapeutix steady at $26.00, citing updated assumptions for profit margin and future P/E that still support this valuation level. What's in the News Ocular Therapeutix plans to host an Investor Day in New York City on June 17, 2026, focused on AXPAXLI development, NDA submission plans for wet age related macular degeneration, and commercialization plans, with a live webcast and replay for investors.Narrative Update • May 15
OCUL: SOL-1 Phase 3 Clarity Will Drive Future Retinal Franchise Upside
Narrative Update: Ocular Therapeutix Analyst Price Target Change The updated analyst price target for Ocular Therapeutix moves to a range of $27 to $34, up from prior targets clustered around $21 to $24. Analysts point to detailed Phase 3 SOL-1 data that they say clarify approval prospects for Axpaxli and support its potential role in treating wet age-related macular degeneration and diabetic retinopathy.Seeking Alpha • May 07
Ocular: SOL-1 Success Is Real, But Adoption Risks Keep Me At Hold
Summary Ocular Therapeutix remains a Hold as current valuation reflects optimistic assumptions for Axpaxli's adoption in wet AMD and NPDR. Axpaxli's SOL-1 data met primary endpoints, but real-world relevance is limited; broad adoption by retinal specialists appears unlikely based on current evidence. Upcoming SOL-R trial, with topline data expected Q1 next year, will better assess Axpaxli's competitiveness against standard aflibercept regimens. OCUL's intrinsic equity value aligns with market cap, but scenario analysis suggests the stock trades closer to a bull than a base case. Read the full article on Seeking AlphaNarrative Update • Apr 28
OCUL: SOL-1 Data Clarity Will Support Future Retinal Franchise Upside
Analysts have lifted their blended 12 month price target on Ocular Therapeutix by about $1 to $27, citing detailed SOL-1 Phase 3 data that in their view clarify approval odds, support Axpaxli's potential in wet age related macular degeneration and diabetic retinopathy, and help offset recent share price volatility. Analyst Commentary Recent research updates focus heavily on how the detailed SOL-1 Phase 3 data could influence Axpaxli's clinical positioning, regulatory outlook, and Ocular Therapeutix's valuation, especially after a sharp share price pullback.
Narrative Update • Apr 14
OCUL: SOL-1 Phase 3 Data Will Drive Bullish Repricing
Ocular Therapeutix's updated analyst price targets, which now range from $27 to $34, reflect analysts' view that detailed Phase 3 SOL-1 data for Axpaxli clarify key efficacy and safety questions and support the case for potential approval in wet AMD and diabetic retinopathy. Analyst Commentary Recent research following the full Phase 3 SOL-1 readout has been broadly constructive, with several firms lifting price targets into the US$27 to US$34 range.Narrative Update • Mar 31
OCUL: Phase 3 SOL-1 Clarity Will Drive Future Retinal Upside
Analysts have lifted their average price target for Ocular Therapeutix by about $2, citing detailed Phase 3 SOL-1 data that they say clarify the approval path for Axpaxli and reduce perceived risk in the broader retinal program. Analyst Commentary Recent research updates show a wide range of views on how Axpaxli and the SOL-1 data could influence Ocular Therapeutix's valuation and execution risk.
Narrative Update • Mar 17
OCUL: Phase 3 Retinal Data And Potential Sanofi Bid Will Reshape Outlook
Analysts have raised the implied fair value estimate for Ocular Therapeutix to $34 from $31, citing refreshed price targets in the $27 to $34 range and detailed SOL-1 trial data. They say these data clarify approval prospects and support Axpaxli's potential role in large eye disease markets.Narrative Update • Mar 03
OCUL: Higher Sanofi Bid And SOL-1 Data Will Drive Bullish Repricing
The analyst price target for Ocular Therapeutix has been adjusted from $20 to $18 as analysts factor in updated fair value estimates, along with views that Axpaxli data from the SOL-1 trial supports potential durability and safety in the large wet AMD market. Analyst Commentary Recent Street research reflects a mixed but generally supportive stance toward Ocular Therapeutix following the SOL-1 trial readout.Narrative Update • Feb 16
OCUL: Potential Higher Sanofi Bid Will Drive Bullish Repricing
Analysts have adjusted their price target on Ocular Therapeutix to $20.00 from $19.00, reflecting updated assumptions around revenue growth, profit margins, discount rate and future P/E that they view as more closely aligned with the company’s current outlook. What's in the News Sanofi is reported to be preparing a higher bid for Ocular Therapeutix, signaling continuing interest in the company as a potential acquisition target (IBD, Periodicals).Narrative Update • Feb 02
OCUL: Potential Sanofi Bid And Phase 3 Milestones Will Drive Repricing
Analysts have raised their fair value estimate for Ocular Therapeutix from US$14.00 to US$19.00, citing updated assumptions around revenue growth, profit margins, and a higher future P/E multiple as key drivers of the new price target. What's in the News Sanofi is reported to be preparing a higher bid for Ocular Therapeutix, according to Investor's Business Daily, highlighting ongoing interest from a large pharmaceutical partner (IBD).Narrative Update • Jan 19
OCUL: Potential Sanofi Bid And Late Stage Trials Will Reshape Outlook
Analysts now put their fair value estimate for Ocular Therapeutix at US$31.00, up from US$22.00. They cite revised assumptions for revenue growth, profit margins and future P/E that change their overall risk and return outlook for the stock.Analysis Article • Jan 08
Ocular Therapeutix, Inc.'s (NASDAQ:OCUL) Stock Retreats 29% But Revenues Haven't Escaped The Attention Of Investors
Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shares have had a horrible month, losing 29% after a relatively good period...Narrative Update • Jan 05
OCUL: Phase 3 Retinal Program Progress Will Drive Future Upside Potential
Analysts have reaffirmed their price target on Ocular Therapeutix at roughly US$24.17 per share, citing largely unchanged assumptions around discount rate, revenue growth, profit margin, and future P/E that together support a stable fair value outlook. What's in the News Ocular Therapeutix plans to enter a quiet period starting 20 December 2025 as it prepares for database lock for the SOL-1 Phase 3 trial of AXPAXLI for wet age-related macular degeneration.Narrative Update • Dec 14
OCUL: Derisked Diabetic Retinopathy Pivotal Program Will Drive Future Upside Potential
Analysts raised their price target on Ocular Therapeutix by approximately $1.25 per share, citing derisking of the pivotal Nonproliferative Diabetic Retinopathy program and the potential for blockbuster revenue growth, along with upcoming wet AMD pivotal readouts that are expected to drive meaningful near term value creation. Analyst Commentary Bullish analysts view the updated price target as a reflection of increased confidence in Ocular Therapeutix's execution against its late stage ophthalmology pipeline, particularly in Nonproliferative Diabetic Retinopathy and wet AMD.Narrative Update • Nov 29
OCUL: Pivotal Retinopathy Trial Progress Will Drive Substantial Upside Potential
Analysts have increased their price target for Ocular Therapeutix from $20 to $29, citing new developments in a derisked pivotal program for Nonproliferative Diabetic Retinopathy as well as potential near-term value from upcoming wet AMD trial readouts. Analyst Commentary Following the recent price target increase for Ocular Therapeutix, analysts have provided a range of perspectives on the company's opportunities and risks.Narrative Update • Nov 15
OCUL: Pivotal Trial Progress in Diabetic Retinopathy Will Drive Long-Term Upside
Analysts have increased their price target for Ocular Therapeutix by $1.00 to $22.92, citing recently derisked pivotal programs that enhance the company's potential for both near-term and long-term value creation. Analyst Commentary Bullish Takeaways Bullish analysts highlight the recent price target increase as evidence of growing confidence in the company's clinical programs and strategic direction.Narrative Update • Nov 01
OCUL: Pivotal Nonproliferative Diabetic Retinopathy Results Will Drive Future Share Upside
Analysts have increased their price target for Ocular Therapeutix from $20 to $29, citing the newly derisked pivotal program in Nonproliferative Diabetic Retinopathy and anticipated value from upcoming wet AMD trial results as justification for their greater optimism. Analyst Commentary Recent analyst discussions have centered on the positive momentum surrounding Ocular Therapeutix due to its progress in developing treatments for retinal diseases.Narrative Update • Oct 17
Future Drug Approvals Will Expand Retinal Disease Treatments
Ocular Therapeutix saw its analyst price target increase significantly from $20 to $29, as analysts cite newly available de-risked data in Nonproliferative Diabetic Retinopathy and upcoming pivotal readouts in wet AMD as key drivers of enhanced valuation. Analyst Commentary Following the recent price target revision, analysts have weighed in with both optimistic and cautious perspectives regarding Ocular Therapeutix's outlook.Narrative Update • Oct 03
Future Drug Approvals Will Expand Retinal Disease Treatments
Analysts have raised their fair value estimate for Ocular Therapeutix from $17.45 to $20.17 per share, citing increased clarity around the company's pivotal program in Nonproliferative Diabetic Retinopathy and its emerging opportunities in wet AMD. Analyst Commentary Analysts have provided detailed insights following recent developments at Ocular Therapeutix, offering a balanced perspective on both the opportunities and challenges influencing the company's valuation and future growth prospects.Analysis Article • Jul 29
After Leaping 31% Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Are Not Flying Under The Radar
Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shares have continued their recent momentum with a 31% gain in the last month...Analysis Article • Jun 10
Ocular Therapeutix, Inc.'s (NASDAQ:OCUL) 26% Jump Shows Its Popularity With Investors
Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shares have had a really impressive month, gaining 26% after a shaky period...Analysis Article • May 29
Ocular Therapeutix (NASDAQ:OCUL) Has Debt But No Earnings; Should You Worry?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • May 07
Bearish: Analysts Just Cut Their Ocular Therapeutix, Inc. (NASDAQ:OCUL) Revenue and EPS estimates
One thing we could say about the analysts on Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) - they aren't optimistic, having...Analysis Article • Mar 25
Why Investors Shouldn't Be Surprised By Ocular Therapeutix, Inc.'s (NASDAQ:OCUL) P/S
With a price-to-sales (or "P/S") ratio of 19x Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) may be sending very bearish...
New Narrative • Mar 24
FDA Approval And Adjusted Trials Will Expand Treatment Options
AXPAXLI's FDA amendment enables better dosing schedules, boosting market penetration and revenue through superior treatment durability.Seeking Alpha • Mar 06
Ocular Therapeutix: Axpaxli's Dual Trial Strategy And Blockbuster Potential
Summary Ocular Therapeutix focuses on Axpaxli, a long-acting wet AMD therapy administered every 6–12 months. Dextenza currently drives revenues, but Axpaxli is expected to unlock long-term growth. Ocular has two important Phase 3 trials (SOL-1 and SOL-R), which are key catalysts this year, with data expected by early 2026. OCUL is also working on expanding Axpaxli’s indications into NPDR/DME to tap a vast, largely untreated diabetic retinopathy market. In my view, the recent pullback makes OCUL a great speculative “Strong Buy” due to its large aggregate TAM and clear regulatory pathway at this stage. Read the full article on Seeking AlphaAnalysis Article • Feb 25
Does Ocular Therapeutix (NASDAQ:OCUL) Have A Healthy Balance Sheet?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Oct 16
Is Ocular Therapeutix (NASDAQ:OCUL) Weighed On By Its Debt Load?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Seeking Alpha • Oct 11
Ocular Therapeutix: Focus On Axpaxli's Path To Market In Wet-AMD And Implications To Investors
Summary In my previous article, I rated Ocular as a “Hold” based on concerns regarding Axpaxli’s path to market. The SOL-1 and SOL-R Phase III trials are designed to assess Axpaxli's safety, efficacy, and potential market disruption in wet-AMD treatment. OCUL's Elutyx drug delivery platform offers sustained long-term effects, making it a valuable asset beyond current retina-focused applications. Despite financial losses, Ocular's strong cash position and strategic focus on Axpaxli support a stable outlook until potential commercialization in 2026-2027. Read the full article on Seeking AlphaAnalysis Article • Aug 10
Earnings Update: Ocular Therapeutix, Inc. (NASDAQ:OCUL) Just Reported Its Second-Quarter Results And Analysts Are Updating Their Forecasts
It's been a good week for Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shareholders, because the company has just released...Seeking Alpha • Jul 23
Ocular Therapeutix: A Speculative Investment For Risk-Tolerant Investors
Summary Today, we take a more in-depth look at small-cap biopharma Ocular Therapeutix, Inc. The company is focused on developing therapies for eye conditions using bioresorbable hydrogel-based technology. Ocular's lead clinical candidate, Axpaxli, is undergoing Phase 3 trials for wet AMD and NPDR, with potential peak sales forecasted at $600 million. Ocular has a potentially lucrative market it is targeting, but the stock is currently only appropriate for risk-tolerant investors. A full investment analysis around Ocular Therapeutix follows in the paragraphs below. Read the full article on Seeking AlphaAnalysis Article • Jul 15
Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stocks Shoot Up 41% But Its P/S Still Looks Reasonable
Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shareholders would be excited to see that the share price has had a great...Analysis Article • Jun 05
Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Could Be 45% Below Their Intrinsic Value Estimate
Key Insights The projected fair value for Ocular Therapeutix is US$9.56 based on 2 Stage Free Cash Flow to Equity...Seeking Alpha • Jun 01
Ocular Therapeutix: Unveiling Pipeline Progress (AXPAXLI, PAXTRAVA) And Q1 Results
Summary Ocular Therapeutix has provided promising updates on its clinical trials for Axpaxli and Paxtrava, utilizing its Elutyx drug-eluting platform. The company has appointed a new CEO and raised funds, extending its cash runway until 2028. Ocular's pipeline includes treatments for wet-AMD, diabetic retinopathy, glaucoma, and other eye conditions, with potential for significant revenue growth. Read the full article on Seeking AlphaSeeking Alpha • Mar 19
Ocular Therapeutics' Impressive Surge: A Strategic Insight
Summary Ocular Therapeutics' stock has surged 184% in six months, driven by promising clinical assets in eye disease treatments. Dextenza's success illustrates Ocular's Elutyx technology potential, but Paxtrava faces tough competition and logistical challenges in glaucoma treatment. Ocular is developing Axpaxli, an intravitreal implant for wet AMD, but faces competition from other sustained-release TKIs and gene therapies. Investment recommendation: Hold OCUL stock, considering its speculative nature and the current full pricing of its market prospects. Read the full article on Seeking AlphaSeeking Alpha • Feb 11
Ocular Therapeutix: Diabetic Retinopathy Data Q2 2024 And Wet AMD Advancement
Summary Ocular Therapeutix is using its Elutyx technology to develop drug candidates for eye disorders, with upcoming results from the HELIOS study for diabetic retinopathy Q2 2024. The company is also progressing with the phase 3 SOL study for wet age-related macular degeneration using AXPAXLI, its axitinib intravitreal implant; First patient to be dosed Q1 of 2024. Patient compliance with ocular disorder treatment could be improved. The hope is that the company's extended-release hydrogel technology Elutyx can greatly reduce the need for frequent injections. Results from the phase 2 randomized study, using PAXTRAVA for patients with open-angle ocular glaucoma and ocular hypertension, are expected at ASCRS meeting in April of 2024. Read the full article on Seeking AlphaSeeking Alpha • Jan 10
Ocular Therapeutix Vies With Gene Therapies, Not Just Eylea, For Wet AMD
Summary Ocular Therapeutix, Inc. develops OTX-TKI, an implantable product for neovascular or wet AMD, with a duration of treatment effect of up to 10 months. OTX-TKI uses Ocular's hydrogel drug delivery platform, which allows controlled drug release for extended periods. Despite potential benefits, concerns have been raised about the sustained delivery approach of OTX-TKI, and the market has shown skepticism towards the product. Read the full article on Seeking AlphaAnalysis Article • Jan 09
Optimistic Investors Push Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Up 31% But Growth Is Lacking
Despite an already strong run, Ocular Therapeutix, Inc. ( NASDAQ:OCUL ) shares have been powering on, with a gain of...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | -US$290m |
| Dec 31 2025 | US$36m | US$819k | -US$266m |
| Sep 30 2025 | n/a | n/a | -US$250m |
| Jun 30 2025 | n/a | n/a | -US$217m |
| Mar 31 2025 | n/a | n/a | -US$193m |
| Dec 31 2024 | US$19m | US$465k | -US$194m |
Compensation vs Market: Pravin's total compensation ($USD35.95M) is above average for companies of similar size in the US market ($USD5.29M).
Compensation vs Earnings: Pravin's compensation has increased whilst the company is unprofitable.
CEO
Pravin Dugel (62 yo)
2.2yrs
Tenure
US$35,946,958
Compensation
Dr. Pravin U. Dugel, M. D. has been Executive Chairman of Ocular Therapeutix, Inc. since February 21, 2024 and also serves as its Chief Executive Officer and President since April 15, 2024. He served as Pr...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 2.2yrs | US$35.95m | 0.34% $ 6.7m | |
| Chief Operating Officer (Leave of Absence) | 1.8yrs | US$3.67m | 0.084% $ 1.7m | |
| Chief Commercial Officer | 3.4yrs | US$2.55m | 0.033% $ 652.2k | |
| Chief Strategy Officer | 2.3yrs | US$3.46m | 0.078% $ 1.5m | |
| Chief Medical Officer | 2yrs | US$4.38m | 0.043% $ 841.9k | |
| CFO & Principal Accounting Officer | less than a year | no data | no data | |
| Chief Technical Officer | no data | no data | no data | |
| Chief Scientific Officer | 2.3yrs | US$6.67m | 0.080% $ 1.6m | |
| Vice President of Investor Relations | no data | no data | no data | |
| Chief Legal Officer & Corporate Secretary | 1.7yrs | no data | 0.0099% $ 194.6k | |
| Vice President of Global Sales & Marketing | no data | no data | no data | |
| Chief Development Officer | 4yrs | US$6.69m | 0.041% $ 803.0k |
2.2yrs
Average Tenure
57.5yo
Average Age
Experienced Management: OCUL's management team is considered experienced (2.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 2.3yrs | US$35.95m | 0.34% $ 6.7m | |
| Lead Independent Director | 18.4yrs | US$498.68k | 0.033% $ 647.7k | |
| Independent Director | 4.8yrs | US$463.68k | 0.015% $ 294.4k | |
| Independent Director | 13.6yrs | US$461.18k | 0.11% $ 2.2m | |
| Independent Director | 2.9yrs | US$448.68k | 0.013% $ 250.4k | |
| Independent Director | 7.3yrs | US$461.18k | 0.017% $ 334.7k | |
| Independent Director | 7yrs | US$448.68k | 0.015% $ 294.4k |
7.0yrs
Average Tenure
68yo
Average Age
Experienced Board: OCUL's board of directors are considered experienced (7 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/17 00:09 |
| End of Day Share Price | 2026/06/17 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Ocular Therapeutix, Inc. is covered by 25 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Colleen Kusy | Baird |
| Anita Dushyanth | Berenberg |
| Tazeen Ahmad | BofA Global Research |