Ocular Therapeutix, Inc. (NASDAQ:OCUL) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Several other research firms have also weighed in on OCUL. Morgan Stanley lowered Ocular Therapeutix from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a report on Friday, June 23rd. Zacks Investment Research lowered Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. BTIG Research lowered Ocular Therapeutix from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 target price on shares of Ocular Therapeutix in a report on Monday, May 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.55.
Ocular Therapeutix (NASDAQ:OCUL) traded down 1.64% on Monday, reaching $6.61. 947,168 shares of the company traded hands. The stock’s market capitalization is $191.88 million. The firm has a 50 day moving average price of $9.17 and a 200 day moving average price of $8.84. Ocular Therapeutix has a 52-week low of $4.04 and a 52-week high of $11.91.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Friday, May 5th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. Ocular Therapeutix had a negative return on equity of 80.26% and a negative net margin of 2,620.06%. The company had revenue of $0.48 million during the quarter, compared to analyst estimates of $0.51 million. During the same quarter last year, the firm posted ($0.35) earnings per share. Equities research analysts predict that Ocular Therapeutix will post ($2.22) EPS for the current year.
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A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in Ocular Therapeutix during the first quarter valued at $3,394,000. GWM Advisors LLC acquired a new position in shares of Ocular Therapeutix during the first quarter worth approximately $381,000. NEXT Financial Group Inc acquired a new position in shares of Ocular Therapeutix during the first quarter worth approximately $480,000. Parametric Portfolio Associates LLC raised its position in shares of Ocular Therapeutix by 1.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $284,000 after buying an additional 401 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Ocular Therapeutix by 24.9% in the first quarter. Bank of New York Mellon Corp now owns 88,736 shares of the biopharmaceutical company’s stock worth $824,000 after buying an additional 17,679 shares during the period. Hedge funds and other institutional investors own 65.21% of the company’s stock.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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