Ocular Therapeutix (NASDAQ:OCUL) Raised to “Hold” at Zacks Investment Research

Ocular Therapeutix (NASDAQ:OCULGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, 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. StockNews.com started coverage on Ocular Therapeutix in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JMP Securities reduced their target price on Ocular Therapeutix from $30.00 to $22.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. HC Wainwright reduced their target price on Ocular Therapeutix from $14.00 to $10.00 in a report on Tuesday, May 10th. Finally, Piper Sandler reduced their price objective on Ocular Therapeutix from $20.00 to $16.00 in a report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.80.

Shares of OCUL stock opened at $3.35 on Friday. The firm has a market capitalization of $257.15 million, a P/E ratio of -3.60 and a beta of 1.79. Ocular Therapeutix has a twelve month low of $2.96 and a twelve month high of $15.32. The company has a quick ratio of 7.23, a current ratio of 7.29 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $4.30 and its 200 day simple moving average is $5.53.

Ocular Therapeutix (NASDAQ:OCULGet Rating) last released its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.23) EPS for the quarter, meeting analysts’ consensus estimates of ($0.23). The firm had revenue of $12.31 million for the quarter, compared to analyst estimates of $14.18 million. Ocular Therapeutix had a negative return on equity of 26.50% and a negative net margin of 45.00%. During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, equities research analysts expect that Ocular Therapeutix will post -0.89 EPS for the current fiscal year.

In other Ocular Therapeutix news, major shareholder Summer Road Llc bought 10,000 shares of the stock in a transaction dated Wednesday, February 23rd. The stock was purchased at an average cost of $4.80 per share, for a total transaction of $48,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

Several hedge funds have recently modified their holdings of OCUL. Federated Hermes Inc. purchased a new stake in Ocular Therapeutix in the 1st quarter worth $3,080,000. Emerald Mutual Fund Advisers Trust raised its position in Ocular Therapeutix by 165.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 997,226 shares of the biopharmaceutical company’s stock worth $6,951,000 after purchasing an additional 621,420 shares during the period. Affinity Asset Advisors LLC grew its stake in Ocular Therapeutix by 200.0% in the 3rd quarter. Affinity Asset Advisors LLC now owns 750,000 shares of the biopharmaceutical company’s stock worth $7,500,000 after acquiring an additional 500,000 shares in the last quarter. Cetera Investment Advisers bought a new position in Ocular Therapeutix in the 3rd quarter worth about $4,321,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Ocular Therapeutix by 537.7% during the first quarter. Renaissance Technologies LLC now owns 510,805 shares of the biopharmaceutical company’s stock valued at $2,528,000 after purchasing an additional 430,705 shares in the last quarter. 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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