ValuEngine Lowers Ocular Therapeutix, Inc. (OCUL) to Strong Sell
Ocular Therapeutix, Inc. (NASDAQ:OCUL) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
OCUL has been the subject of several other reports. Cantor Fitzgerald set a $35.00 price objective on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Monday, July 10th. BTIG Research reaffirmed a “neutral” rating on shares of Ocular Therapeutix in a research report on Thursday, August 10th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, August 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective (down from $16.00) on shares of Ocular Therapeutix in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.14.
Ocular Therapeutix (NASDAQ OCUL) traded up 0.63% during midday trading on Thursday, hitting $6.38. The stock had a trading volume of 177,794 shares. The stock has a 50-day moving average of $6.09 and a 200-day moving average of $8.31. The firm’s market cap is $185.38 million. Ocular Therapeutix has a 52 week low of $4.82 and a 52 week high of $11.91.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.05). The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.51 million. Ocular Therapeutix had a negative return on equity of 101.03% and a negative net margin of 3,005.52%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. Analysts forecast that Ocular Therapeutix will post ($2.25) EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Ocular Therapeutix by 35.2% during the first quarter. Wellington Management Group LLP now owns 1,312,703 shares of the biopharmaceutical company’s stock worth $12,182,000 after acquiring an additional 341,767 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 0.4% during the second quarter. Vanguard Group Inc. now owns 905,456 shares of the biopharmaceutical company’s stock worth $8,394,000 after acquiring an additional 3,194 shares in the last quarter. Morgan Stanley raised its holdings in Ocular Therapeutix by 84.0% during the first quarter. Morgan Stanley now owns 604,636 shares of the biopharmaceutical company’s stock worth $5,611,000 after acquiring an additional 275,950 shares in the last quarter. State Street Corp raised its holdings in Ocular Therapeutix by 12.3% during the second quarter. State Street Corp now owns 371,923 shares of the biopharmaceutical company’s stock worth $3,450,000 after acquiring an additional 40,782 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Ocular Therapeutix during the first quarter worth about $3,394,000. Institutional investors and hedge funds own 53.42% of the company’s stock.
About Ocular Therapeutix
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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