Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Lowered by StockNews.com

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently weighed in on OCUL. JMP Securities restated a "market outperform" rating and set a $24.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, March 13th. HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. Bank of America initiated coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Piper Sandler boosted their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Ocular Therapeutix Stock Down 0.4 %

OCUL stock traded down $0.03 during trading on Friday, reaching $8.44. 1,437,732 shares of the stock were exchanged, compared to its average volume of 2,024,828. The firm has a market cap of $1.25 billion, a P/E ratio of -6.75 and a beta of 1.30. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31. The firm's 50 day moving average is $8.28 and its 200 day moving average is $5.02. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. As a group, research analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other news, CFO Donald Notman sold 6,433 shares of the business's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the sale, the chief financial officer now owns 139,932 shares of the company's stock, valued at approximately $692,663.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Donald Notman sold 6,433 shares of the company's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the completion of the transaction, the chief financial officer now owns 139,932 shares of the company's stock, valued at approximately $692,663.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Summer Road Llc bought 930,851 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the acquisition, the insider now directly owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. Insiders own 5.50% of the company's stock.

Institutional Trading of Ocular Therapeutix

Hedge funds have recently bought and sold shares of the stock. Deltec Asset Management LLC lifted its stake in Ocular Therapeutix by 18.5% in the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company's stock worth $10,898,000 after purchasing an additional 381,810 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Ocular Therapeutix during the 4th quarter valued at about $667,000. GSA Capital Partners LLP raised its position in shares of Ocular Therapeutix by 96.4% during the 3rd quarter. GSA Capital Partners LLP now owns 233,582 shares of the biopharmaceutical company's stock valued at $733,000 after buying an additional 114,629 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at about $299,000. Finally, Barclays PLC raised its position in shares of Ocular Therapeutix by 22.9% during the 3rd quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company's stock valued at $81,000 after buying an additional 4,840 shares in the last quarter. Hedge funds and other 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.

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