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

Key Points

• Wall Street Zen downgraded Ocular Therapeutix from Hold to Strong Sell. However, analyst sentiment overall remains more positive: MarketBeat reports an average “Moderate Buy” rating and a $23.83 average price target.
• Ocular Therapeutix missed quarterly expectations, reporting an adjusted loss of $0.42 per share versus estimates of $0.36 and revenue of $12.87 million versus $14.27 million expected. Revenue fell 11.5% year over year.
• Shares opened at $6.21, near their 52-week low of $5.99. Other recent coverage included HC Wainwright raising its target to $28 and maintaining a Buy rating.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong sell" rating in a report released on Saturday, Wall Street Zen reports.

OCUL has been the topic of several other reports. HC Wainwright raised their target price on Ocular Therapeutix from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday. Zacks Research upgraded Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Chardan Capital reissued a "buy" rating and issued a $23.00 price target on shares of Ocular Therapeutix in a report on Friday, October 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of "Moderate Buy" and an average target price of $23.83.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $6.21 on Friday. The business's 50-day moving average is $7.99 and its two-hundred day moving average is $8.91. The company has a quick ratio of 13.03, a current ratio of 9.12 and a debt-to-equity ratio of 0.17. Ocular Therapeutix has a fifty-two week low of $5.99 and a fifty-two week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.06). The company had revenue of $12.87 million for the quarter, compared to analysts' expectations of $14.27 million. Ocular Therapeutix had a negative net margin of 648.64% and a negative return on equity of 59.95%. The business's quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.38) EPS. On average, sell-side analysts forecast that Ocular Therapeutix will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Namrata Saroj sold 35,370 shares of the company's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $6.55, for a total value of $231,673.50. Following the completion of the transaction, the insider owned 220,522 shares in the company, valued at approximately $1,444,419.10. This represents a 13.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, insider Pravin Dugel sold 21,649 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider owned 2,525,429 shares of the company's stock, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 98,090 shares of company stock valued at $787,920 in the last ninety days. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in Ocular Therapeutix during the second quarter worth approximately $51,000. Sterling Capital Management LLC grew its holdings in Ocular Therapeutix by 401.7% in the third quarter. Sterling Capital Management LLC now owns 6,612 shares of the biopharmaceutical company's stock valued at $51,000 after purchasing an additional 5,294 shares during the period. Root Financial Partners LLC acquired a new stake in Ocular Therapeutix in the third quarter valued at approximately $66,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ocular Therapeutix in the third quarter valued at approximately $86,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 59.21% of the company's stock.

Ocular Therapeutix News Roundup

Investors following OCUL have been watching these news items:

• Positive Sentiment: A report highlights Ocular Therapeutix’s Phase 3 wet age-related macular degeneration (AMD) success, a potentially important clinical milestone. How Investors Are Reacting To Ocular Therapeutix (OCUL) Phase 3 Wet AMD Success
• Positive Sentiment: HC Wainwright raised its price target to $28 and retained a Buy rating; RBC Capital also kept its Buy rating, signaling continued analyst optimism. Ocular Therapeutix Stock Gets Price Target Increase from HC Wainwright RBC Capital Keeps Their Buy Rating
• Neutral Sentiment: Although the Phase 3 result is encouraging, another report notes that debate over OCUL’s valuation persists, which may temper enthusiasm about the clinical news. Ocular Therapeutix on Phase 3 AMD Win and Valuation Debate

About Ocular Therapeutix

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on developing and commercializing treatments for eye diseases and conditions. Based in Bedford, Massachusetts, the company uses its proprietary hydrogel-based technology to deliver medicines to the eye over time. Its marketed product, DEXTENZA, is a corticosteroid insert placed in the tear duct by an eye-care professional to treat inflammation and pain following ophthalmic surgery. Ocular Therapeutix also develops investigational therapies for retinal diseases and other eye conditions, including treatments designed for sustained drug delivery.

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