Ocular Therapeutix (NASDAQ:OCUL) Price Target Lowered to $14.00 at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL) had its target price decreased by HC Wainwright from $16.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on OCUL. Piper Sandler boosted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a research note on Monday, February 26th. JMP Securities lowered their price target on Ocular Therapeutix from $24.00 to $22.00 and set a market outperform rating for the company in a research note on Wednesday. Bank of America began coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a buy rating and a $15.00 price objective on the stock. StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. Finally, TD Cowen dropped their price target on shares of Ocular Therapeutix from $11.00 to $7.00 and set a hold rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $15.17.

Ocular Therapeutix Stock Up 1.6 %

Shares of NASDAQ OCUL traded up $0.09 during mid-day trading on Wednesday, reaching $5.84. The company had a trading volume of 1,718,298 shares, compared to its average volume of 2,317,501. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The company has a market capitalization of $903.60 million, a price-to-earnings ratio of -4.60 and a beta of 1.47. The stock has a fifty day moving average of $8.02 and a two-hundred day moving average of $5.56. Ocular Therapeutix has a 12-month low of $2.00 and a 12-month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, equities research analysts expect that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Activity

In other news, major shareholder Summer Road Llc acquired 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the acquisition, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont lifted its holdings in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares during the period. Tower Research Capital LLC TRC grew its position in Ocular Therapeutix by 142.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth about $45,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Ocular Therapeutix during the third quarter valued at about $37,000. Institutional investors own 59.21% of the company’s stock.

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.