Ocular Therapeutix (NASDAQ:OCUL) Price Target Cut to $14.00

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) had its target price cut by equities researchers at HC Wainwright from $16.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 143.48% from the stock's previous close.

Other analysts have also recently issued reports about the company. Piper Sandler increased their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, February 26th. TD Cowen cut their target price on Ocular Therapeutix from $11.00 to $7.00 and set a "hold" rating on the stock in a research note on Wednesday. Bank of America started coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a "buy" rating and a $15.00 price target for the company. StockNews.com cut shares of Ocular Therapeutix from a "hold" rating to a "sell" rating in a report on Friday, April 5th. Finally, JMP Securities reduced their target price on shares of Ocular Therapeutix from $24.00 to $22.00 and set a "market outperform" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.17.

Ocular Therapeutix Stock Performance

OCUL traded down $0.18 during trading hours on Wednesday, hitting $5.75. 2,676,950 shares of the stock were exchanged, compared to its average volume of 2,324,234. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.31. The stock has a 50-day simple moving average of $8.02 and a 200-day simple moving average of $5.56. The stock has a market cap of $889.70 million, a price-to-earnings ratio of -4.60 and a beta of 1.47.

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

Insider Buying and Selling

In related news, major shareholder Summer Road Llc bought 930,851 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now directly owns 8,591,401 shares of the company's stock, valued at approximately $64,607,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its position in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company's stock worth $41,000 after buying an additional 7,152 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company's stock worth $44,000 after buying an additional 5,730 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Ocular Therapeutix in the fourth quarter worth approximately $45,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Ocular Therapeutix in the third quarter valued at $37,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

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.