HC Wainwright Lowers Ocular Therapeutix (NASDAQ:OCUL) Price Target to $14.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target cut by equities research analysts at HC Wainwright from $16.00 to $14.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 139.73% from the company’s current price.

A number of other research firms have also recently weighed in on OCUL. TD Cowen cut their price target on Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities decreased their price target on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Finally, Bank of America initiated coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $5.84 on Wednesday. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The stock has a fifty day moving average price of $7.93 and a 200 day moving average price of $5.57. The company has a market cap of $903.60 million, a P/E ratio of -4.67 and a beta of 1.47.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly 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 net margin of 138.15% and a negative return on equity of 321.12%. The business had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. On average, research analysts forecast that Ocular Therapeutix will post -0.68 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the company’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. ProShare Advisors LLC boosted its holdings in Ocular Therapeutix by 55.7% during the first quarter. ProShare Advisors LLC now owns 28,498 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 10,194 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ocular Therapeutix by 47.3% during the first quarter. SG Americas Securities LLC now owns 28,946 shares of the biopharmaceutical company’s stock valued at $263,000 after purchasing an additional 9,300 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at $423,000. Essex Investment Management Co. LLC increased its stake in Ocular Therapeutix by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 376,200 shares of the biopharmaceutical company’s stock worth $3,423,000 after purchasing an additional 5,828 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Ocular Therapeutix by 373.1% during the 1st quarter. BNP Paribas Financial Markets now owns 185,308 shares of the biopharmaceutical company’s stock worth $1,686,000 after buying an additional 146,138 shares during the period. 59.21% of the stock is currently owned by institutional investors.

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-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.