Ocular Therapeutix (NASDAQ:OCUL) Raised to Hold at Wall Street Zen

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other research analysts have also recently commented on the company. Robert W. Baird boosted their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, November 5th. JMP Securities raised their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 1st. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. Finally, Chardan Capital reiterated a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Ocular Therapeutix Trading Up 4.4%

OCUL opened at $12.24 on Monday. The firm’s 50 day moving average is $11.70 and its 200-day moving average is $10.79. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.61 billion, a P/E ratio of -9.56 and a beta of 1.53.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $14.54 million during the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Analysts expect that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the transaction, the insider directly owned 249,409 shares in the company, valued at $2,753,475.36. This trade represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the transaction, the insider directly owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. This represents a 11.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,353 shares of company stock valued at $373,034. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in Ocular Therapeutix by 62.9% during the second 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 period. Brooklyn Investment Group grew its holdings in shares of Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ocular Therapeutix by 17.0% during the 2nd 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 raised its position in shares of Ocular Therapeutix by 16.1% during the 2nd 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 period. Finally, Quarry LP bought a new stake in shares of Ocular Therapeutix in the 3rd quarter worth approximately $80,000. 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.