Ocular Therapeutix (OCUL) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a sell rating in a research report report published on Thursday morning.

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. “

A number of other research analysts have also recently issued reports on the company. HC Wainwright set a $12.00 target price on Ocular Therapeutix and gave the company a buy rating in a research report on Friday, January 11th. ValuEngine raised Ocular Therapeutix from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Cowen reissued a buy rating and set a $13.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, December 4th. Cantor Fitzgerald lifted their price target on Ocular Therapeutix from $22.00 to $24.00 and gave the company an overweight rating in a research note on Monday, December 3rd. Finally, BidaskClub raised Ocular Therapeutix from a sell rating to a hold rating in a research note on Sunday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $12.38.

Ocular Therapeutix stock traded down $0.01 during midday trading on Thursday, reaching $3.94. The company’s stock had a trading volume of 269,656 shares, compared to its average volume of 435,903. Ocular Therapeutix has a 52 week low of $3.55 and a 52 week high of $8.28. The company has a quick ratio of 4.34, a current ratio of 4.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $163.48 million, a PE ratio of -1.79 and a beta of 2.09.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.02). Ocular Therapeutix had a negative net margin of 2,822.15% and a negative return on equity of 133.73%. The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.45 million. As a group, analysts expect that Ocular Therapeutix will post -1.55 earnings per share for the current year.

In related news, insider Kevin F. Hanley acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were bought at an average cost of $5.50 per share, with a total value of $55,000.00. Following the completion of the purchase, the insider now directly owns 20,000 shares in the company, valued at $110,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel M. Bollag acquired 17,400 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $100,224.00. The disclosure for this purchase can be found here. Insiders have bought 37,400 shares of company stock worth $211,224 over the last three months. Insiders own 15.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of OCUL. Bank of New York Mellon Corp lifted its stake in shares of Ocular Therapeutix by 13.6% in 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. Schwab Charles Investment Management Inc. lifted its stake in Ocular Therapeutix by 35.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 72,559 shares of the biopharmaceutical company’s stock valued at $490,000 after buying an additional 18,989 shares during the period. BlackRock Inc. lifted its stake in Ocular Therapeutix by 15.9% in the second quarter. BlackRock Inc. now owns 1,965,882 shares of the biopharmaceutical company’s stock valued at $13,270,000 after buying an additional 269,270 shares during the period. MetLife Investment Advisors LLC acquired a new position in Ocular Therapeutix in the second quarter valued at approximately $117,000. Finally, Northern Trust Corp lifted its stake in Ocular Therapeutix by 11.7% in the second quarter. Northern Trust Corp now owns 362,627 shares of the biopharmaceutical company’s stock valued at $2,447,000 after buying an additional 38,101 shares during the period. 52.42% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

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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