TD Cowen Trims Ocular Therapeutix (NASDAQ:OCUL) Target Price to $7.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target decreased by TD Cowen from $11.00 to $7.00 in a report released on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. Piper Sandler boosted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an overweight rating in a research report on Monday, February 26th. HC Wainwright reaffirmed a buy rating and issued a $16.00 target price on shares of Ocular Therapeutix in a research note on Friday, April 19th. Bank of America began coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a buy rating and a $15.00 price target on the stock. Finally, JMP Securities reaffirmed a market outperform rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $15.17.

Ocular Therapeutix Price Performance

NASDAQ OCUL traded up $0.09 during trading hours on Wednesday, reaching $5.84. 1,718,298 shares of the company’s stock were exchanged, compared to its average volume of 2,317,501. The firm has a fifty day moving average of $8.02 and a 200-day moving average of $5.56. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31. The stock has a market cap of $903.60 million, a PE ratio of -4.60 and a beta of 1.47. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

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

Insider Activity

In related news, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont grew its holdings in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 5,730 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ocular Therapeutix during the fourth quarter worth $45,000. Finally, Rafferty Asset Management LLC acquired a new stake in Ocular Therapeutix in the third quarter valued at $37,000. Institutional investors and hedge funds 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.