Ocular Therapeutix, Inc. (OCUL) Stock Rating Upgraded by Zacks Investment Research
Ocular Therapeutix, Inc. (NASDAQ:OCUL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
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. “
Other analysts have also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Ocular Therapeutix in a report on Wednesday, November 8th. Guggenheim started coverage on Ocular Therapeutix in a report on Monday, October 23rd. They set a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a report on Monday, September 25th. Morgan Stanley restated an “equal weight” rating and set a $8.00 target price (down previously from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. Finally, ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $22.29.
Ocular Therapeutix (OCUL) opened at $5.37 on Friday. The company has a quick ratio of 5.20, a current ratio of 4.79 and a debt-to-equity ratio of 0.39. Ocular Therapeutix has a 12 month low of $4.70 and a 12 month high of $11.91.
Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). The company had revenue of $523.00 million for the quarter, compared to analysts’ expectations of $0.52 million. Ocular Therapeutix had a negative return on equity of 126.31% and a negative net margin of 3,241.19%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.39) earnings per share. analysts predict that Ocular Therapeutix will post -2.35 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. Columbus Circle Investors boosted 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 acquiring an additional 494,867 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ocular Therapeutix by 24.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 3,650 shares during the last quarter. State Street Corp boosted its holdings in Ocular Therapeutix by 12.3% in the second quarter. State Street Corp now owns 371,923 shares of the biopharmaceutical company’s stock valued at $3,450,000 after acquiring an additional 40,782 shares during the last quarter. Royal Bank of Canada boosted its holdings in Ocular Therapeutix by 3.0% in the second quarter. Royal Bank of Canada now owns 203,558 shares of the biopharmaceutical company’s stock valued at $1,887,000 after acquiring an additional 5,853 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Ocular Therapeutix by 4.4% in the second quarter. Goldman Sachs Group Inc. now owns 33,417 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 1,422 shares during the last quarter. Institutional investors and hedge funds own 53.11% of the company’s stock.
Ocular Therapeutix Company Profile
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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