Ocular Therapeutix (NASDAQ:OCUL) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report issued on Wednesday, Benzinga reports. The firm currently has a $14.00 price target on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on the company. Robert W. Baird reduced their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Ocular Therapeutix Trading Up 12.1 %

Shares of NASDAQ:OCUL opened at $11.47 on Wednesday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -8.50 and a beta of 1.29. The business’s 50 day moving average price is $8.90 and its 200-day moving average price is $7.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.58.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The company had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.27) EPS. On average, equities research analysts forecast that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently bought and sold shares of OCUL. Trust Co. of Vermont lifted its holdings in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Essex Investment Management Co. LLC raised its position in Ocular Therapeutix by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after purchasing an additional 1,168 shares during the period. Amalgamated Bank lifted its stake in shares of Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Ocular Therapeutix by 39.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 3,257 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ocular Therapeutix by 36.9% during the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 4,695 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.