Cowen Reaffirms “Buy” Rating for Ocular Therapeutix (OCUL)
Several other equities research analysts also recently issued reports on OCUL. Cantor Fitzgerald set a $22.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a research note on Tuesday, August 7th. HC Wainwright set a $10.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a research note on Wednesday, August 8th. ValuEngine raised shares of Ocular Therapeutix from a sell rating to a hold rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $7.00 price target on the stock in a research note on Tuesday, August 14th. Finally, JMP Securities set a $9.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a research note on Monday, August 20th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $12.38.
Ocular Therapeutix stock opened at $6.07 on Tuesday. Ocular Therapeutix has a 12-month low of $3.86 and a 12-month high of $8.28. The firm has a market cap of $230.54 million, a P/E ratio of -2.76 and a beta of 1.63. The company has a current ratio of 4.35, a quick ratio of 4.34 and a debt-to-equity ratio of 0.18.
Hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Ocular Therapeutix during the 2nd quarter worth $117,000. Trexquant Investment LP acquired a new position in Ocular Therapeutix during the 3rd quarter worth $139,000. Dimensional Fund Advisors LP acquired a new position in Ocular Therapeutix during the 3rd quarter worth $200,000. Millennium Management LLC grew its holdings in Ocular Therapeutix by 91.0% during the 1st quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock worth $276,000 after acquiring an additional 20,192 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Ocular Therapeutix by 37.0% during the 3rd quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 12,170 shares in the last quarter. 52.66% of the stock is owned by institutional investors.
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. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.
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