Ocular Therapeutix (NASDAQ:OCUL) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
OCUL has been the topic of several other reports. Guggenheim began coverage on Ocular Therapeutix in a research report on Monday, October 23rd. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, November 11th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, November 8th. Finally, BTIG Research upgraded Ocular Therapeutix from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. One 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. The company presently has an average rating of “Buy” and an average target price of $20.67.
Shares of Ocular Therapeutix (NASDAQ:OCUL) traded down $0.30 during trading on Friday, hitting $5.18. The stock had a trading volume of 675,531 shares, compared to its average volume of 629,790. Ocular Therapeutix has a fifty-two week low of $3.30 and a fifty-two week high of $11.79. The stock has a market capitalization of $187.30, a P/E ratio of -2.27 and a beta of 1.53. The company has a quick ratio of 4.78, a current ratio of 4.79 and a debt-to-equity ratio of 0.39.
In other news, insider Antony C. Mattessich bought 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $90,090.00. Following the completion of the transaction, the insider now owns 21,000 shares of the company’s stock, valued at $90,090. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Bollag bought 24,700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased 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 directly owns 24,700 shares of the company’s stock, valued at approximately $97,071. The disclosure for this purchase can be found here. Insiders purchased 69,500 shares of company stock worth $304,781 over the last quarter. 26.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of OCUL. Voya Investment Management LLC bought a new stake in Ocular Therapeutix during the second quarter worth approximately $102,000. Nationwide Fund Advisors increased its stake in Ocular Therapeutix by 10.8% during the second quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,204 shares during the last quarter. New York State Common Retirement Fund increased its stake in Ocular Therapeutix by 45.3% during the second quarter. New York State Common Retirement Fund now owns 18,600 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 5,799 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Ocular Therapeutix by 24.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Ocular Therapeutix during the third quarter worth approximately $245,000. 53.11% of the stock is currently owned by institutional investors.
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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.
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