Ocular Therapeutix Inc (OCUL) Given Average Recommendation of “Hold” by Brokerages

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Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.67.

A number of equities research analysts have recently weighed in on OCUL shares. Piper Jaffray Companies dropped their price objective on Ocular Therapeutix to $8.00 and set a “market perform” rating for the company in a research note on Monday, May 20th. Zacks Investment Research raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. HC Wainwright dropped their price objective on Ocular Therapeutix from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Cowen cut Ocular Therapeutix from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $13.00 to $3.00 in a research note on Tuesday. Finally, ValuEngine cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

In related news, Director Richard L. Md Lindstrom bought 56,441 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $4.33 per share, for a total transaction of $244,389.53. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at approximately $433,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael H. Goldstein bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $4.15 per share, with a total value of $41,500.00. The disclosure for this purchase can be found here. Insiders bought 90,441 shares of company stock valued at $385,490 over the last ninety days. Insiders own 16.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Summer Road LLC lifted its holdings in Ocular Therapeutix by 0.5% during the 1st quarter. Summer Road LLC now owns 3,804,788 shares of the biopharmaceutical company’s stock worth $15,105,000 after buying an additional 19,938 shares during the last quarter. BlackRock Inc. lifted its stake in Ocular Therapeutix by 1.8% in the 1st quarter. BlackRock Inc. now owns 2,843,312 shares of the biopharmaceutical company’s stock valued at $11,287,000 after buying an additional 50,560 shares in the last quarter. Opaleye Management Inc. purchased a new stake in Ocular Therapeutix in the 1st quarter valued at approximately $7,543,000. Man Group plc lifted its stake in Ocular Therapeutix by 45.1% in the 1st quarter. Man Group plc now owns 1,723,456 shares of the biopharmaceutical company’s stock valued at $6,842,000 after buying an additional 535,948 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in Ocular Therapeutix by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 1,427,533 shares of the biopharmaceutical company’s stock valued at $9,821,000 after buying an additional 92,335 shares in the last quarter. Hedge funds and other institutional investors own 47.33% of the company’s stock.

OCUL stock traded up $0.18 during midday trading on Monday, hitting $2.64. 896,505 shares of the company’s stock were exchanged, compared to its average volume of 544,770. The company has a quick ratio of 9.16, a current ratio of 9.19 and a debt-to-equity ratio of 2.17. The stock has a market cap of $113.09 million, a price-to-earnings ratio of -1.68 and a beta of 1.80. Ocular Therapeutix has a 1-year low of $2.35 and a 1-year high of $8.28.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The business had revenue of $0.49 million for the quarter, compared to analyst estimates of $0.45 million. Ocular Therapeutix had a negative return on equity of 165.85% and a negative net margin of 2,956.91%. As a group, sell-side analysts anticipate that Ocular Therapeutix will post -1.42 EPS for the current year.

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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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