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

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities analysts have also recently weighed in on OCUL. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Robert W. Baird upped their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $9.19 on Friday. The company has a market cap of $2.02 billion, a PE ratio of -6.47 and a beta of 0.93. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. The business has a 50 day moving average price of $9.15 and a 200-day moving average price of $9.10. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The company had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. Ocular Therapeutix’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts anticipate that Ocular Therapeutix will post -1.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the sale, the insider owned 2,597,170 shares of the company’s stock, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,999 shares of company stock valued at $237,792 over the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Ocular Therapeutix during the 2nd quarter valued at $190,278,000. Summer Road LLC boosted its holdings in shares of Ocular Therapeutix by 6.9% in the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after acquiring an additional 771,270 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after acquiring an additional 2,411,953 shares during the period. Avoro Capital Advisors LLC boosted its holdings in shares of Ocular Therapeutix by 5.1% in the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after acquiring an additional 527,777 shares during the period. Finally, TCG Crossover Management LLC raised its stake in shares of Ocular Therapeutix by 15.0% during the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after purchasing an additional 798,084 shares during the period. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.