Ocular Therapeutix (NASDAQ:OCUL) Upgraded at Zacks Research

Zacks Research upgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a strong sell rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Chardan Capital restated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Thursday. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday. Piper Sandler raised their price target on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird raised their price target on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Needham & Company LLC raised their price target on shares of Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.13.

Ocular Therapeutix Trading Up 3.2%

OCUL opened at $11.41 on Thursday. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $13.85. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $12.30 and a 200-day moving average of $9.73. The stock has a market cap of $1.99 billion, a PE ratio of -8.91 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. During the same quarter last year, the company earned ($0.26) earnings per share. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. On average, sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 3,063 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,878.52. Following the transaction, the insider directly owned 259,911 shares of the company’s stock, valued at $3,129,328.44. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Kaiser sold 3,011 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,252.44. Following the sale, the insider owned 204,093 shares of the company’s stock, valued at $2,457,279.72. This trade represents a 1.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,519 shares of company stock valued at $367,865 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in Ocular Therapeutix in the first quarter worth about $1,011,000. Vontobel Holding Ltd. bought a new stake in Ocular Therapeutix in the first quarter worth about $79,000. GAMMA Investing LLC raised its position in Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 8,112 shares during the period. Rhumbline Advisers raised its position in Ocular Therapeutix by 4.5% in the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company’s stock worth $1,635,000 after acquiring an additional 9,514 shares during the period. Finally, Deltec Asset Management LLC raised its position in Ocular Therapeutix by 2.9% in the second quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company’s stock worth $25,937,000 after acquiring an additional 78,519 shares during the period. Institutional investors 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.