Zacks Investment Research upgraded shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) from a sell rating to a hold rating in a research note released on Saturday 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. “
Several other brokerages also recently issued reports on OCUL. Morgan Stanley reiterated an equal weight rating and set a $8.00 price target (down from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. ValuEngine upgraded shares of Ocular Therapeutix from a sell rating to a hold rating in a report on Monday, July 24th. HC Wainwright set a $10.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a report on Wednesday, August 2nd. Cantor Fitzgerald reiterated a buy rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, September 25th. Finally, BTIG Research reiterated a neutral rating on shares of Ocular Therapeutix in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $22.29.
Ocular Therapeutix (NASDAQ OCUL) opened at $5.21 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.78 and a current ratio of 4.79. Ocular Therapeutix has a 1-year low of $4.70 and a 1-year high of $11.91.
Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). The company had revenue of $523.00 million during the quarter, compared to the consensus estimate of $0.52 million. Ocular Therapeutix had a negative net margin of 2,976.48% and a negative return on equity of 148.76%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.39) earnings per share. equities research analysts expect that Ocular Therapeutix will post -2.35 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of OCUL. Columbus Circle Investors increased its holdings in Ocular Therapeutix by 85.7% in the third quarter. Columbus Circle Investors now owns 1,072,395 shares of the biopharmaceutical company’s stock valued at $6,627,000 after purchasing an additional 494,867 shares during the period. Morgan Stanley increased its holdings in Ocular Therapeutix by 84.0% in the first quarter. Morgan Stanley now owns 604,636 shares of the biopharmaceutical company’s stock valued at $5,611,000 after purchasing an additional 275,950 shares during the period. Vanguard Group Inc. increased its holdings in Ocular Therapeutix by 24.0% in the first quarter. Vanguard Group Inc. now owns 902,262 shares of the biopharmaceutical company’s stock valued at $8,373,000 after purchasing an additional 174,688 shares during the period. Cowen Inc. acquired a new stake in Ocular Therapeutix in the second quarter valued at $456,000. Finally, KCG Holdings Inc. acquired a new stake in Ocular Therapeutix in the first quarter valued at $402,000. Institutional investors and hedge funds own 52.35% of the company’s stock.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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