Ocular Therapeutix (NASDAQ:OCUL - Free Report) had its price objective lowered by Needham & Company LLC from $15.00 to $14.00 in a research note released on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company's stock.
Several other analysts have also recently weighed in on OCUL. William Blair assumed coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating on the stock. HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price on the stock. Finally, JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.25.
Read Our Latest Stock Analysis on OCUL
Ocular Therapeutix Price Performance
Shares of OCUL traded down $0.34 during midday trading on Tuesday, hitting $7.11. The company's stock had a trading volume of 1,191,577 shares, compared to its average volume of 1,419,695. The company's fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $8.27. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.39 and a beta of 1.51. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a one year low of $4.79 and a one year high of $11.78.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. As a group, equities analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Pravin Dugel sold 21,475 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Ocular Therapeutix
A number of institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Ocular Therapeutix by 2.7% during the fourth quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock worth $792,000 after buying an additional 2,454 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Ocular Therapeutix by 10.0% during the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock worth $237,000 after acquiring an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ocular Therapeutix by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock worth $755,000 after acquiring an additional 2,853 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Ocular Therapeutix in the 4th quarter worth about $28,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Ocular Therapeutix by 11.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock valued at $285,000 after purchasing an additional 3,347 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.
About Ocular Therapeutix
(
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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