Ocular Therapeutix (NASDAQ:OCUL) Rating Lowered to “Sell” at Wall Street Zen

Ocular Therapeutix (NASDAQ:OCUL) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their target price on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 8th. Needham & Company LLC upped their price objective on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Finally, HC Wainwright boosted their price target on Ocular Therapeutix from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Ocular Therapeutix Stock Up 1.0%

OCUL stock opened at $11.30 on Friday. The business’s 50-day moving average price is $11.79 and its 200-day moving average price is $10.63. The stock has a market cap of $2.41 billion, a P/E ratio of -8.83 and a beta of 1.53. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. On average, equities research analysts forecast that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Activity

In related news, insider Todd Anderman sold 11,132 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total transaction of $137,368.88. Following the transaction, the insider directly owned 87,568 shares in the company, valued at approximately $1,080,589.12. This represents a 11.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,494 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the sale, the insider directly owned 3,227,244 shares of the company’s stock, valued at approximately $38,856,017.76. The trade was a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 61,806 shares of company stock worth $727,648. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 1,392 shares during the last quarter. Brooklyn Investment Group increased its stake in Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 893 shares during the period. Trust Co. of Vermont lifted its position in shares of Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Ocular Therapeutix during the third quarter valued at $126,000. Institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.