Ocular Therapeutix, Inc. (NASDAQ:OCUL) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Ocular Therapeutix, Inc. (NASDAQ:OCUL) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.59) by $0.05, Briefing.com reports. Ocular Therapeutix had a negative net margin of 2,620.06% and a negative return on equity of 80.26%. The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.51 million. During the same quarter in the prior year, the firm posted ($0.46) EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year.
Ocular Therapeutix (NASDAQ OCUL) traded down 2.86% on Wednesday, hitting $5.78. 604,447 shares of the company traded hands. The stock’s 50-day moving average is $7.95 and its 200 day moving average is $8.71. The firm’s market capitalization is $167.78 million. Ocular Therapeutix has a 12 month low of $4.82 and a 12 month high of $11.91.
Institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted 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 approximately $107,000. Janney Montgomery Scott LLC acquired a new position in shares of Ocular Therapeutix during the first quarter worth approximately $110,000. State of Wisconsin Investment Board acquired a new position in shares of Ocular Therapeutix during the second quarter worth approximately $167,000. Finally, Alps Advisors Inc. boosted its position in shares of Ocular Therapeutix by 5.9% in the second quarter. Alps Advisors Inc. now owns 26,201 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 1,462 shares during the last quarter. 65.04% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently commented on OCUL shares. BTIG Research lowered shares of Ocular Therapeutix from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Morgan Stanley lowered shares of Ocular Therapeutix from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research note on Friday, June 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Ocular Therapeutix in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, May 16th. Finally, ValuEngine lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.11.
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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