Ocular Therapeutix (NASDAQ:OCUL) Downgraded to Sell Rating by Wall Street Zen

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

Several other research firms have also recently weighed in on OCUL. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, November 5th. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. TD Cowen boosted their target price on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Piper Sandler increased their price target on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.33.

Ocular Therapeutix Price Performance

NASDAQ OCUL opened at $12.58 on Friday. Ocular Therapeutix has a 1 year low of $5.78 and a 1 year high of $13.85. The company has a fifty day simple moving average of $11.63 and a 200 day simple moving average of $11.07. The company has a current ratio of 7.85, a quick ratio of 7.78 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.68 billion, a P/E ratio of -8.74 and a beta of 0.96.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. The firm had revenue of $14.54 million for the quarter, compared to the consensus estimate of $14.57 million. On average, sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total value of $137,368.88. Following the sale, the insider owned 87,568 shares of the company’s stock, valued at $1,080,589.12. The trade was a 11.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey S. Heier sold 10,502 shares of Ocular Therapeutix stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $115,942.08. Following the sale, the insider owned 249,409 shares in the company, valued at approximately $2,753,475.36. This trade represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,287 shares of company stock worth $359,784 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently modified their holdings of OCUL. XTX Topco Ltd boosted its stake in Ocular Therapeutix by 95.0% in the 1st quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 11,012 shares in the last quarter. Nuveen LLC bought a new position in shares of Ocular Therapeutix during the first quarter valued at $3,035,000. Algert Global LLC acquired a new stake in shares of Ocular Therapeutix in the 1st quarter valued at $213,000. Brooklyn Investment Group grew its holdings in shares of Ocular Therapeutix by 151.5% in the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its position in shares of Ocular Therapeutix by 1.9% during the 1st quarter. Aptus Capital Advisors LLC now owns 346,098 shares of the biopharmaceutical company’s stock worth $2,537,000 after purchasing an additional 6,348 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.