Ocular Therapeutix (OCUL) Stock Rating Lowered by ValuEngine

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Ocular Therapeutix (NASDAQ:OCUL) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research analysts have also weighed in on the company. Piper Jaffray Companies assumed coverage on Ocular Therapeutix in a report on Thursday, September 6th. They issued an “overweight” rating on the stock. JMP Securities set a $9.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Monday, August 20th. Zacks Investment Research lowered Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. HC Wainwright set a $10.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Cantor Fitzgerald set a $22.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Ocular Therapeutix has a consensus rating of “Hold” and a consensus target price of $12.00.

OCUL stock opened at $6.20 on Friday. Ocular Therapeutix has a twelve month low of $3.30 and a twelve month high of $8.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.91 and a current ratio of 4.92. The company has a market capitalization of $254.71 million, a PE ratio of -2.82 and a beta of 1.21.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.37). Ocular Therapeutix had a negative return on equity of 143.32% and a negative net margin of 2,814.72%. The company had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.35 million. equities research analysts anticipate that Ocular Therapeutix will post -1.53 EPS for the current fiscal year.

In other Ocular Therapeutix news, insider Antony C. Mattessich purchased 16,900 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were acquired at an average cost of $6.23 per share, for a total transaction of $105,287.00. Following the completion of the acquisition, the insider now owns 37,900 shares of the company’s stock, valued at approximately $236,117. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donald Notman purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $6.29 per share, for a total transaction of $78,625.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,300 shares of the company’s stock, valued at approximately $108,817. The disclosure for this purchase can be found here. Insiders have purchased 49,400 shares of company stock worth $302,912 over the last quarter. 15.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Ocular Therapeutix by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 94,294 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 11,276 shares during the period. MetLife Investment Advisors LLC bought a new stake in Ocular Therapeutix during the second quarter worth $117,000. Opaleye Management Inc. bought a new stake in Ocular Therapeutix during the second quarter worth $7,499,000. BlackRock Inc. lifted its holdings in Ocular Therapeutix by 15.9% during the second quarter. BlackRock Inc. now owns 1,965,882 shares of the biopharmaceutical company’s stock worth $13,270,000 after acquiring an additional 269,270 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Ocular Therapeutix by 35.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 72,559 shares of the biopharmaceutical company’s stock worth $490,000 after acquiring an additional 18,989 shares during the period. Institutional investors and hedge funds own 56.65% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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