Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.67.

A number of equities research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Friday, June 21st. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Robert W. Baird cut their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen downgraded shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st.

Check Out Our Latest Report on Ocular Therapeutix

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avoro Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix in the first quarter worth $65,055,000. Point72 Asset Management L.P. bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $18,514,000. Vanguard Group Inc. boosted its holdings in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Ocular Therapeutix in the second quarter worth about $6,840,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Ocular Therapeutix in the second quarter worth about $5,130,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $9.78 on Tuesday. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.31. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.51 billion, a P/E ratio of -7.24 and a beta of 1.29. The company has a 50 day moving average of $8.73 and a 200 day moving average of $7.38.

Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.85 million. During the same quarter last year, the business posted ($0.27) EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Ocular Therapeutix will post -1.02 EPS for the current fiscal year.

Ocular Therapeutix Company Profile

(Get Free Report

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.

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