Ocular Therapeutix (NASDAQ:OCUL) Price Target Cut to $14.00 by Analysts at Needham & Company LLC

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) had its price objective cut by equities research analysts at Needham & Company LLC from $15.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Needham & Company LLC's price objective indicates a potential upside of 81.11% from the stock's previous close.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating on the stock. Finally, JMP Securities set a $19.00 price objective on Ocular Therapeutix in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.25.

Ocular Therapeutix Stock Down 12.2 %

Ocular Therapeutix stock opened at $7.73 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a market capitalization of $1.23 billion, a PE ratio of -5.86 and a beta of 1.51. The business has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $8.36. Ocular Therapeutix has a 12 month low of $4.79 and a 12 month high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $17.08 million during the quarter, compared to analysts' expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Activity

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Deep Track Capital LP raised its position in Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after purchasing an additional 114,822 shares during the period. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after buying an additional 99,730 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after buying an additional 895,304 shares during the period. Deltec Asset Management LLC lifted its stake in Ocular Therapeutix by 3.8% during the 1st quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock worth $19,911,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Ocular Therapeutix by 26.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock valued at $11,398,000 after acquiring an additional 278,610 shares during the period. Institutional investors and hedge funds own 59.21% of the company's stock.

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.

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