Zacks Investment Research cut shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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 research analysts also recently issued reports about the company. Piper Jaffray Companies set a $14.00 price objective on Ocular Therapeutix and gave the company a buy rating in a research note on Friday, March 8th. Cantor Fitzgerald reissued a buy rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, March 7th. HC Wainwright set a $12.00 price objective on Ocular Therapeutix and gave the company a buy rating in a research note on Friday, January 11th. Finally, ValuEngine raised Ocular Therapeutix from a sell rating to a hold rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Ocular Therapeutix presently has an average rating of Buy and a consensus price target of $12.61.

NASDAQ OCUL opened at $4.09 on Wednesday. Ocular Therapeutix has a one year low of $3.46 and a one year high of $8.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 6.14 and a quick ratio of 6.11. The firm has a market capitalization of $174.79 million, a P/E ratio of -2.61 and a beta of 1.86.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.05). Ocular Therapeutix had a negative net margin of 3,013.97% and a negative return on equity of 136.09%. The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.45 million. On average, sell-side analysts forecast that Ocular Therapeutix will post -1.47 earnings per share for the current year.

In related news, Director Richard L. Md Lindstrom bought 56,441 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $4.33 per share, for a total transaction of $244,389.53. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $433,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey S. Heier bought 24,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $4.15 per share, with a total value of $99,600.00. Following the completion of the acquisition, the director now owns 24,000 shares in the company, valued at $99,600. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 90,441 shares of company stock valued at $385,490. 15.90% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of OCUL. Man Group plc purchased a new position in Ocular Therapeutix during the 3rd quarter valued at about $3,461,000. Dimensional Fund Advisors LP purchased a new stake in shares of Ocular Therapeutix in the third quarter worth about $200,000. BlackRock Inc. boosted its position in shares of Ocular Therapeutix by 16.6% in the third quarter. BlackRock Inc. now owns 2,292,263 shares of the biopharmaceutical company’s stock worth $15,770,000 after buying an additional 326,381 shares during the period. Wells Fargo & Company MN boosted its position in shares of Ocular Therapeutix by 37.0% in the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock worth $310,000 after buying an additional 12,170 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth about $50,000. Institutional investors own 50.50% of the company’s stock.

Ocular Therapeutix Company Profile

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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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