Ocular Therapeutix, Inc. (NASDAQ:OCUL) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday, August 4th.
A number of other research firms have also recently commented on OCUL. Morgan Stanley cut Ocular Therapeutix from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Friday, June 23rd. Zacks Investment Research cut Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. BTIG Research lowered shares of Ocular Therapeutix from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Ocular Therapeutix in a research note on Monday, May 15th. Finally, HC Wainwright set a $10.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.14.
Ocular Therapeutix (OCUL) traded down 2.35% during midday trading on Friday, hitting $5.81. The company had a trading volume of 291,665 shares. Ocular Therapeutix has a 1-year low of $4.82 and a 1-year high of $11.91. The firm’s market capitalization is $168.82 million. The company has a 50 day moving average price of $7.12 and a 200 day moving average price of $8.65.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $0.05. Ocular Therapeutix had a negative net margin of 3,005.52% and a negative return on equity of 101.03%. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.51 million. During the same quarter last year, the business earned ($0.46) earnings per share. Ocular Therapeutix’s revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Ocular Therapeutix will post ($2.21) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of OCUL. JPMorgan Chase & Co. bought a new position in shares of Ocular Therapeutix during the first quarter worth $3,394,000. GWM Advisors LLC acquired a new position in Ocular Therapeutix during the first quarter worth $381,000. NEXT Financial Group Inc acquired a new position in Ocular Therapeutix during the first quarter worth $480,000. Parametric Portfolio Associates LLC raised its position in Ocular Therapeutix by 1.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $284,000 after buying an additional 401 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Ocular Therapeutix by 24.9% in the first quarter. Bank of New York Mellon Corp now owns 88,736 shares of the biopharmaceutical company’s stock worth $824,000 after buying an additional 17,679 shares during the period. 59.12% of the stock is currently owned by hedge funds and other institutional investors.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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