Ocular Therapeutix Inc. (NASDAQ:OCUL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
OCUL has been the topic of several other research reports. BTIG Research restated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. JMP Securities started coverage on Ocular Therapeutix in a research report on Thursday, August 11th. They set an “outperform” rating and a $5.84 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Ocular Therapeutix has an average rating of “Buy” and an average target price of $19.07.
Ocular Therapeutix (NASDAQ:OCUL) opened at 6.51 on Wednesday. The firm’s 50-day moving average price is $6.76 and its 200 day moving average price is $7.97. Ocular Therapeutix has a one year low of $4.04 and a one year high of $17.34. The firm’s market capitalization is $161.58 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.03. The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $0.55 million. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.45) earnings per share. On average, equities analysts anticipate that Ocular Therapeutix will post ($1.87) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. ProShare Advisors LLC increased its stake in shares of Ocular Therapeutix by 3.1% in the second quarter. ProShare Advisors LLC now owns 20,623 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 614 shares during the period. Highbridge Capital Management LLC purchased a new position in Ocular Therapeutix during the second quarter worth approximately $111,000. Teachers Advisors Inc. boosted its position in Ocular Therapeutix by 17.9% in the second quarter. Teachers Advisors Inc. now owns 25,268 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 3,836 shares in the last quarter. Alliancebernstein L.P. boosted its position in Ocular Therapeutix by 127.5% in the second quarter. Alliancebernstein L.P. now owns 27,300 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 15,300 shares in the last quarter. Finally, Veritable L.P. boosted its position in Ocular Therapeutix by 50.7% in the second quarter. Veritable L.P. now owns 30,143 shares of the biopharmaceutical company’s stock worth $149,000 after buying an additional 10,143 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.
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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