Zacks Investment Research upgraded shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) from a sell rating to a hold rating in a report released on Saturday.
According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “
Several other equities research analysts also recently issued reports on the company. Guggenheim started coverage on Ocular Therapeutix in a research report on Monday, October 23rd. They set a buy rating and a $12.00 target price on the stock. Morgan Stanley restated an equal weight rating and set a $8.00 target price (down previously from $16.00) on shares of Ocular Therapeutix in a research report on Friday, July 14th. BTIG Research restated a neutral rating on shares of Ocular Therapeutix in a research report on Monday, July 17th. ValuEngine downgraded Ocular Therapeutix from a sell rating to a strong sell rating in a research report on Thursday, September 21st. Finally, HC Wainwright started coverage on Ocular Therapeutix in a research report on Wednesday, July 26th. They set a buy rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Ocular Therapeutix has a consensus rating of Hold and an average target price of $22.29.
Shares of Ocular Therapeutix (OCUL) opened at $5.32 on Friday. Ocular Therapeutix has a 12-month low of $4.70 and a 12-month high of $11.91. The company has a current ratio of 4.79, a quick ratio of 4.78 and a debt-to-equity ratio of 0.39.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). The firm had revenue of $523.00 million for the quarter, compared to the consensus estimate of $0.52 million. Ocular Therapeutix had a negative return on equity of 126.31% and a negative net margin of 3,241.19%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.39) earnings per share. sell-side analysts predict that Ocular Therapeutix will post -2.35 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the stock. Columbus Circle Investors increased its stake in Ocular Therapeutix by 85.7% in the third quarter. Columbus Circle Investors now owns 1,072,395 shares of the biopharmaceutical company’s stock valued at $6,627,000 after acquiring an additional 494,867 shares during the last quarter. Morgan Stanley increased its stake in Ocular Therapeutix by 84.0% in the first quarter. Morgan Stanley now owns 604,636 shares of the biopharmaceutical company’s stock valued at $5,611,000 after acquiring an additional 275,950 shares during the last quarter. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 24.0% in the first quarter. Vanguard Group Inc. now owns 902,262 shares of the biopharmaceutical company’s stock valued at $8,373,000 after acquiring an additional 174,688 shares during the last quarter. Cowen Inc. bought a new position in Ocular Therapeutix in the second quarter valued at $456,000. Finally, KCG Holdings Inc. bought a new position in Ocular Therapeutix in the first quarter valued at $402,000. Institutional investors own 52.35% of the company’s stock.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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