Ocular Therapeutix (OCUL) Upgraded at BTIG Research

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Friday, Marketbeat.com reports.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Ocular Therapeutix from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Ocular Therapeutix in a report on Wednesday, November 8th. Guggenheim assumed coverage on shares of Ocular Therapeutix in a report on Monday, October 23rd. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Ocular Therapeutix currently has an average rating of “Buy” and an average price target of $20.67.

Shares of Ocular Therapeutix (OCUL) traded up $0.69 during trading on Friday, hitting $6.23. 1,443,109 shares of the stock were exchanged, compared to its average volume of 372,671. Ocular Therapeutix has a 52-week low of $3.30 and a 52-week high of $11.79. The stock has a market capitalization of $203.57, a P/E ratio of -2.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.78 and a current ratio of 4.79.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.54). Ocular Therapeutix had a negative net margin of 3,241.19% and a negative return on equity of 126.31%. The firm had revenue of $523.00 million for the quarter, compared to the consensus estimate of $0.52 million. During the same period in the prior year, the firm posted ($0.39) earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. equities research analysts expect that Ocular Therapeutix will post -2.37 EPS for the current year.

In related news, Chairman Amarpreet Sawhney acquired 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average cost of $5.18 per share, for a total transaction of $98,420.00. Following the completion of the transaction, the chairman now owns 696,390 shares in the company, valued at $3,607,300.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Bollag acquired 24,700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average price of $3.93 per share, for a total transaction of $97,071.00. Following the completion of the transaction, the insider now owns 24,700 shares of the company’s stock, valued at approximately $97,071. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 69,500 shares of company stock worth $304,781. 26.10% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of OCUL. Rhumbline Advisers increased its position in shares of Ocular Therapeutix by 22.1% in the second quarter. Rhumbline Advisers now owns 27,386 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 4,958 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of Ocular Therapeutix in the second quarter worth approximately $277,000. Alliancebernstein L.P. increased its position in shares of Ocular Therapeutix by 52.7% in the second quarter. Alliancebernstein L.P. now owns 41,700 shares of the biopharmaceutical company’s stock worth $387,000 after purchasing an additional 14,400 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Ocular Therapeutix by 6.2% in the second quarter. Teachers Advisors LLC now owns 42,679 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 2,500 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Ocular Therapeutix by 0.7% in the second quarter. TIAA CREF Investment Management LLC now owns 111,019 shares of the biopharmaceutical company’s stock worth $1,029,000 after purchasing an additional 785 shares during the last quarter. Institutional investors own 52.94% of the company’s stock.

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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.

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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