Ocular Therapeutix (NASDAQ:OCUL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a sell rating to a hold rating in a research report released on Saturday morning.

OCUL has been the topic of several other research reports. Chardan Capital reiterated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. HC Wainwright lifted their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Ocular Therapeutix in a research note on Monday, December 8th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $9.16 on Friday. The firm’s 50 day simple moving average is $11.82 and its 200-day simple moving average is $11.93. The firm has a market cap of $1.95 billion, a PE ratio of -6.36 and a beta of 0.90. Ocular Therapeutix has a one year low of $5.78 and a one year high of $16.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 94.79% and a negative net margin of 511.90%.The firm had revenue of $13.25 million for the quarter, compared to analyst estimates of $16.13 million. During the same quarter last year, the firm posted ($0.29) earnings per share. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. As a group, equities analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Activity

In other Ocular Therapeutix news, COO Donald Notman sold 6,035 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $8.54, for a total transaction of $51,538.90. Following the completion of the transaction, the chief operating officer owned 377,802 shares of the company’s stock, valued at approximately $3,226,429.08. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in the business. Pale Fire Capital SE raised its holdings in shares of Ocular Therapeutix by 20.7% during the 2nd quarter. Pale Fire Capital SE now owns 530,135 shares of the biopharmaceutical company’s stock valued at $4,920,000 after buying an additional 90,748 shares during the period. Saturn V Capital Management LP increased its position in Ocular Therapeutix by 21.8% in the second quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock worth $6,761,000 after buying an additional 130,385 shares during the period. Truist Financial Corp increased its position in Ocular Therapeutix by 100.0% in the 2nd quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 50,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Ocular Therapeutix during the second quarter valued at about $342,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.