Ocular Therapeutix (NASDAQ:OCUL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a sell rating to a hold rating in a report published on Saturday morning.

Several other research firms also recently issued reports on OCUL. TD Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a research report on Thursday. HC Wainwright boosted their price objective on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Ocular Therapeutix Stock Up 2.9%

Shares of OCUL stock opened at $9.43 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of -6.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The stock has a fifty day moving average price of $11.77 and a 200 day moving average price of $11.91. Ocular Therapeutix has a one year low of $5.78 and a one year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The firm had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $16.13 million. During the same quarter last year, the company earned ($0.29) earnings per share. The company’s revenue for the quarter was down 22.4% compared to the same quarter last year. Analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Activity

In related news, COO Donald Notman sold 6,035 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $8.54, for a total value of $51,538.90. Following the transaction, the chief operating officer owned 377,802 shares in the company, valued at approximately $3,226,429.08. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently made changes to their positions in OCUL. Pale Fire Capital SE raised its holdings in Ocular Therapeutix by 20.7% in the 2nd quarter. Pale Fire Capital SE now owns 530,135 shares of the biopharmaceutical company’s stock worth $4,920,000 after acquiring an additional 90,748 shares during the last quarter. Saturn V Capital Management LP boosted its stake in Ocular Therapeutix by 21.8% during the 2nd quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock valued at $6,761,000 after purchasing an additional 130,385 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Ocular Therapeutix by 100.0% in the 2nd quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 50,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 893 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Ocular Therapeutix by 63.2% during the second quarter. Allianz Asset Management GmbH now owns 61,200 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 23,700 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.