Zacks: Brokerages Anticipate Ocular Therapeutix, Inc. (OCUL) Will Post Earnings of -$0.64 Per Share
Analysts expect Ocular Therapeutix, Inc. (NASDAQ:OCUL) to post earnings of ($0.64) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Ocular Therapeutix’s earnings. Ocular Therapeutix posted earnings per share of ($0.46) during the same quarter last year, which indicates a negative year over year growth rate of 39.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Ocular Therapeutix will report full-year earnings of ($2.44) per share for the current fiscal year, with EPS estimates ranging from ($2.63) to ($2.35). For the next fiscal year, analysts forecast that the business will post earnings of ($2.61) per share, with EPS estimates ranging from ($2.61) to ($2.60). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Ocular Therapeutix.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Friday, May 5th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. The business had revenue of $0.48 million for the quarter, compared to analyst estimates of $0.51 million. Ocular Therapeutix had a negative return on equity of 80.26% and a negative net margin of 2,620.06%. During the same period in the prior year, the company posted ($0.35) EPS.
Several research firms recently commented on OCUL. Cantor Fitzgerald set a $35.00 price target on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Saturday, March 11th. ValuEngine raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley lowered Ocular Therapeutix from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research report on Friday. Zacks Investment Research raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Finally, BTIG Research lowered Ocular Therapeutix from a “buy” rating to a “neutral” rating in a research report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.69.
Shares of Ocular Therapeutix (OCUL) traded down 12.05% during mid-day trading on Friday, hitting $10.15. 3,403,415 shares of the stock traded hands. The company’s market cap is $294.63 million. The stock has a 50 day moving average price of $10.08 and a 200-day moving average price of $8.89. Ocular Therapeutix has a one year low of $4.04 and a one year high of $11.91.
Institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its position in shares of Ocular Therapeutix by 8.2% in the first quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 844 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Ocular Therapeutix during the first quarter worth about $107,000. Janney Montgomery Scott LLC acquired a new position in shares of Ocular Therapeutix during the first quarter worth about $110,000. Ellington Management Group LLC raised its position in shares of Ocular Therapeutix by 25.4% in the fourth quarter. Ellington Management Group LLC now owns 21,200 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 4,300 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Ocular Therapeutix during the fourth quarter worth about $181,000. 65.30% of the stock is currently owned by institutional investors.
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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