Ocular Therapeutix, Inc. (OCUL) Coverage Initiated by Analysts at Guggenheim
Research analysts at Guggenheim began coverage on shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a report on Monday, September 25th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, August 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 price objective (down from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, BTIG Research reiterated a “neutral” rating on shares of Ocular Therapeutix in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Ocular Therapeutix (NASDAQ:OCUL) traded up 0.36% during trading on Monday, hitting $5.58. The stock had a trading volume of 242,999 shares. Ocular Therapeutix has a 52-week low of $4.82 and a 52-week high of $11.91. The company’s market cap is $162.13 million. The firm’s 50-day moving average price is $6.25 and its 200-day moving average price is $7.83.
Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.05). Ocular Therapeutix had a negative net margin of 3,005.52% and a negative return on equity of 101.03%. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.51 million. During the same quarter in the prior year, the firm earned ($0.46) EPS. Ocular Therapeutix’s revenue for the quarter was up .0% on a year-over-year basis. Analysts predict that Ocular Therapeutix will post ($2.29) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of OCUL. Voya Investment Management LLC acquired a new stake in Ocular Therapeutix in the 2nd quarter worth about $102,000. American International Group Inc. boosted its holdings in shares of Ocular Therapeutix by 8.2% during the 1st quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 844 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $107,000. Nationwide Fund Advisors boosted its holdings in shares of Ocular Therapeutix by 10.8% during the 2nd quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,204 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in shares of Ocular Therapeutix during the 2nd quarter worth approximately $167,000. Institutional investors own 53.33% of the company’s stock.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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