Ocular Therapeutix (NASDAQ:OCUL) Lowered to Strong Sell at Zacks Investment Research

Ocular Therapeutix (NASDAQ:OCULGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, 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. “

A number of other equities analysts also recently weighed in on OCUL. JMP Securities lowered their target price on shares of Ocular Therapeutix from $30.00 to $22.00 and set a “market outperform” rating for the company in a research note on Tuesday, March 1st. StockNews.com initiated coverage on shares of Ocular Therapeutix in a research note on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Buy” and an average price target of $19.40.

OCUL stock opened at $3.98 on Tuesday. The company has a fifty day moving average price of $4.80 and a 200-day moving average price of $5.97. The company has a market capitalization of $305.48 million, a P/E ratio of -4.19 and a beta of 1.70. Ocular Therapeutix has a 52-week low of $3.51 and a 52-week high of $18.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.26.

Ocular Therapeutix (NASDAQ:OCULGet Rating) last released its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). The firm had revenue of $12.31 million during the quarter, compared to the consensus estimate of $14.18 million. Ocular Therapeutix had a negative net margin of 15.06% and a negative return on equity of 7.73%. During the same quarter last year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts forecast that Ocular Therapeutix will post -0.81 earnings per share for the current fiscal year.

In related news, major shareholder Summer Road Llc purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The stock was purchased at an average cost of $4.80 per share, with a total value of $48,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust increased its stake in Ocular Therapeutix by 9.6% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 1,093,148 shares of the biopharmaceutical company’s stock valued at $5,411,000 after purchasing an additional 95,922 shares in the last quarter. Emerald Advisers LLC increased its stake in Ocular Therapeutix by 22.1% in the first quarter. Emerald Advisers LLC now owns 1,291,905 shares of the biopharmaceutical company’s stock valued at $6,395,000 after purchasing an additional 234,178 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in Ocular Therapeutix by 66.1% in the first quarter. Virginia Retirement Systems ET AL now owns 53,500 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 21,300 shares in the last quarter. Hikari Power Ltd grew its holdings in shares of Ocular Therapeutix by 41.7% during the first quarter. Hikari Power Ltd now owns 17,000 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 5,000 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Ocular Therapeutix during the fourth quarter valued at about $498,000. 53.94% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile (Get Rating)

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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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