Ocular Therapeutix, Inc. (OCUL) Receives $26.20 Average Price Target from Analysts
Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.20.
OCUL has been the subject of a number of recent research reports. HC Wainwright set a $10.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Wednesday, August 2nd. Cantor Fitzgerald set a $35.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Monday, July 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 target price (down from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of Ocular Therapeutix in a report on Monday, July 17th.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in Ocular Therapeutix by 24.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 3,650 shares during the last quarter. State Street Corp lifted its holdings in Ocular Therapeutix by 12.3% during the 2nd quarter. State Street Corp now owns 371,923 shares of the biopharmaceutical company’s stock worth $3,450,000 after buying an additional 40,782 shares during the last quarter. Royal Bank of Canada lifted its holdings in Ocular Therapeutix by 3.0% during the 2nd quarter. Royal Bank of Canada now owns 203,558 shares of the biopharmaceutical company’s stock worth $1,887,000 after buying an additional 5,853 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ocular Therapeutix by 4.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 33,417 shares of the biopharmaceutical company’s stock worth $310,000 after buying an additional 1,422 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $102,000. 53.42% of the stock is owned by institutional investors.
Shares of Ocular Therapeutix (OCUL) traded down 3.44% during midday trading on Wednesday, hitting $6.18. The company had a trading volume of 398,793 shares. The company has a 50-day moving average of $6.09 and a 200 day moving average of $8.31. The firm’s market capitalization is $179.57 million. Ocular Therapeutix has a 12 month low of $4.82 and a 12 month high of $11.91.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.05). Ocular Therapeutix had a negative net margin of 3,005.52% and a negative return on equity of 101.03%. The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.51 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that Ocular Therapeutix will post ($2.25) EPS for the current fiscal year.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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