Ocular Therapeutix (NASDAQ:OCUL) Upgraded by Wall Street Zen to “Hold” Rating

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

OCUL has been the subject of a number of other reports. HC Wainwright increased their target price on Ocular Therapeutix from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Finally, Robert W. Baird upped their price objective on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $10.85 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. The firm’s 50-day simple moving average is $11.96 and its 200-day simple moving average is $10.50. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $13.85. The firm has a market cap of $1.89 billion, a P/E ratio of -8.48 and a beta of 1.53.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. The firm had revenue of $14.54 million during the quarter, compared to analyst estimates of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. As a group, research analysts expect that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,494 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $258,787.76. Following the sale, the insider directly owned 3,227,244 shares of the company’s stock, valued at $38,856,017.76. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey S. Heier sold 10,502 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the transaction, the insider owned 249,409 shares of the company’s stock, valued at $2,753,475.36. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,806 shares of company stock valued at $727,648 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in OCUL. Nisa Investment Advisors LLC boosted its holdings in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,392 shares during the last quarter. Brooklyn Investment Group lifted its position in Ocular Therapeutix by 151.5% during the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. Trust Co. of Vermont boosted its stake in shares of Ocular Therapeutix by 16.1% in the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter worth approximately $126,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.