Cantor Fitzgerald reiterated their overweight rating on shares of Ocular Therapeutix Inc (NASDAQ:OCUL) in a report released on Friday, May 5th. They currently have a $35.00 target price on the biopharmaceutical company’s stock.
Several other analysts also recently commented on OCUL. BTIG Research restated a buy rating and issued a $13.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, January 24th. Cowen and Company restated an outperform rating and issued a $60.00 target price on shares of Ocular Therapeutix in a research note on Monday, March 13th. Finally, Zacks Investment Research downgraded Ocular Therapeutix from a hold rating to a sell rating in a research note on Thursday, March 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $24.69.
Shares of Ocular Therapeutix (NASDAQ:OCUL) traded down 0.19% during trading on Friday, reaching $10.38. The company’s stock had a trading volume of 611,968 shares. The company’s market cap is $301.31 million. Ocular Therapeutix has a 52-week low of $4.04 and a 52-week high of $12.43. The firm’s 50-day moving average is $8.95 and its 200 day moving average is $8.48.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Friday, May 5th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. The business had revenue of $0.48 million during the quarter, compared to the consensus estimate of $0.51 million. Ocular Therapeutix had a negative return on equity of 56.23% and a negative net margin of 2,346.47%. During the same period last year, the business posted ($0.35) earnings per share. On average, equities research analysts predict that Ocular Therapeutix will post ($2.35) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in Ocular Therapeutix during the first quarter valued at $110,000. Columbus Circle Investors raised its stake in Ocular Therapeutix by 131.4% in the first quarter. Columbus Circle Investors now owns 1,087,605 shares of the biopharmaceutical company’s stock valued at $10,093,000 after buying an additional 617,515 shares during the last quarter. Berson & Corrado Investment Advisors LLC raised its stake in Ocular Therapeutix by 5.8% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 32,805 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 1,785 shares during the last quarter. Teachers Advisors LLC raised its stake in Ocular Therapeutix by 47.7% in the fourth quarter. Teachers Advisors LLC now owns 37,318 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 12,050 shares during the last quarter. Finally, Opaleye Management Inc. acquired a new stake in Ocular Therapeutix during the fourth quarter valued at about $783,000. 66.59% of the stock is currently owned by hedge funds and other institutional investors.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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