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 research note published on Saturday morning.

Other equities analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Zacks Research downgraded shares of Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Chardan Capital reissued a “buy” rating and set a $23.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Ocular Therapeutix Trading Up 0.5%

Shares of Ocular Therapeutix stock opened at $9.24 on Friday. The business has a fifty day simple moving average of $9.16 and a 200-day simple moving average of $9.08. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -6.51 and a beta of 0.93. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period in the previous year, the company earned ($0.39) earnings per share. Ocular Therapeutix’s revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that Ocular Therapeutix will post -1.5 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,999 shares of company stock worth $237,792 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix in the 4th quarter worth approximately $31,000. Hilton Head Capital Partners LLC acquired a new position in Ocular Therapeutix in the 4th quarter worth approximately $42,000. Atlas Capital Advisors Inc. purchased a new position in Ocular Therapeutix during the 4th quarter worth approximately $61,000. Finally, State of Wyoming purchased a new position in Ocular Therapeutix during the 4th quarter worth approximately $78,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

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.