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 released on Wednesday 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 firms have also issued reports on OCUL. Piper Jaffray Companies set a $14.00 target price on shares of Ocular Therapeutix and gave the company a buy rating in a research note on Friday, March 8th. Cantor Fitzgerald reissued a buy rating and set a $24.00 target price on shares of Ocular Therapeutix in a research note on Thursday, March 7th. HC Wainwright set a $12.00 target price on shares of Ocular Therapeutix and gave the company a buy rating in a research note on Friday, January 11th. ValuEngine raised shares of Ocular Therapeutix from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Finally, Cowen reissued a buy rating and set a $13.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $12.61.

Shares of NASDAQ:OCUL opened at $4.05 on Wednesday. The company has a quick ratio of 6.11, a current ratio of 6.14 and a debt-to-equity ratio of 0.69. Ocular Therapeutix has a fifty-two week low of $3.46 and a fifty-two week high of $8.28. The stock has a market cap of $173.49 million, a P/E ratio of -2.58 and a beta of 1.89.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). Ocular Therapeutix had a negative net margin of 3,013.97% and a negative return on equity of 136.09%. The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.45 million. On average, equities analysts expect that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.

In other news, Director Richard L. Md Lindstrom bought 56,441 shares of Ocular Therapeutix stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of $4.33 per share, with a total value of $244,389.53. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $433,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Summer Road LLC lifted its stake in shares of Ocular Therapeutix by 25.0% in the 4th quarter. Summer Road LLC now owns 3,784,850 shares of the biopharmaceutical company’s stock worth $15,064,000 after acquiring an additional 757,362 shares during the period. BlackRock Inc. lifted its stake in shares of Ocular Therapeutix by 21.8% in the 4th quarter. BlackRock Inc. now owns 2,792,752 shares of the biopharmaceutical company’s stock worth $11,115,000 after acquiring an additional 500,489 shares during the period. Jennison Associates LLC lifted its stake in shares of Ocular Therapeutix by 0.7% in the 3rd quarter. Jennison Associates LLC now owns 2,335,989 shares of the biopharmaceutical company’s stock worth $16,072,000 after acquiring an additional 16,734 shares during the period. Vanguard Group Inc lifted its stake in shares of Ocular Therapeutix by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 1,427,533 shares of the biopharmaceutical company’s stock worth $9,821,000 after acquiring an additional 92,335 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Ocular Therapeutix by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock worth $9,821,000 after acquiring an additional 92,335 shares during the period. 52.41% of the stock is 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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