Ocular Therapeutix’s (OCUL) “Buy” Rating Reaffirmed at Cantor Fitzgerald
Ocular Therapeutix, Inc. (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Monday. They presently have a $21.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 229.15% from the company’s previous close.
The analysts wrote, “Presentation at our conference emphasized added biopharma leadership experience to a previously medical technology-focused company.””
OCUL has been the subject of several other reports. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. BTIG Research restated a “neutral” rating on shares of Ocular Therapeutix in a research note on Thursday, August 10th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, August 9th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $8.00 price objective (down from $16.00) on shares of Ocular Therapeutix in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Ocular Therapeutix has an average rating of “Hold” and a consensus price target of $22.14.
Ocular Therapeutix (NASDAQ:OCUL) traded down 0.16% during midday trading on Monday, hitting $6.37. 181,098 shares of the stock were exchanged. Ocular Therapeutix has a 1-year low of $4.82 and a 1-year high of $11.91. The company’s 50 day moving average is $6.09 and its 200-day moving average is $8.31. The stock’s market cap is $185.09 million.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results 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 business had revenue of $0.40 million during 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%. Ocular Therapeutix’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.46) EPS. On average, analysts expect that Ocular Therapeutix will post ($2.25) earnings per share for the current year.
Several large investors have recently made changes to their positions in OCUL. Jennison Associates LLC raised its position in Ocular Therapeutix by 123.6% during the second quarter. Jennison Associates LLC now owns 2,972,606 shares of the biopharmaceutical company’s stock valued at $14,714,000 after acquiring an additional 1,643,261 shares in the last quarter. Columbus Circle Investors raised its position in Ocular Therapeutix by 131.4% during the first quarter. Columbus Circle Investors now owns 1,087,605 shares of the biopharmaceutical company’s stock valued at $10,093,000 after acquiring an additional 617,515 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Ocular Therapeutix during the first quarter valued at approximately $3,394,000. Prescott Group Capital Management L.L.C. purchased a new position in Ocular Therapeutix during the second quarter valued at approximately $1,750,000. Finally, Wellington Management Group LLP raised its position 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 valued at $12,182,000 after acquiring an additional 341,767 shares in the last quarter. Hedge funds and other institutional investors own 53.42% 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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