Ocular Therapeutix (NASDAQ:OCUL) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research cut Ocular Therapeutix from hold to strong sell, even as most other analysts remain bullish on the stock.
• Recent analyst actions were mixed but generally positive, with firms like Robert W. Baird, Chardan Capital, Needham, and HC Wainwright maintaining or raising buy-rated targets. Overall, MarketBeat shows a Moderate Buy consensus and a $25.11 average price target.
• The stock was trading around $9.96, well below the consensus target, while insider Pravin Dugel sold shares in a pre-arranged transaction and institutional ownership remained high at 59.21%.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Robert W. Baird upped their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 18th. Chardan Capital lifted their target price on Ocular Therapeutix from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Needham & Company LLC reissued a "buy" rating and set a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Finally, HC Wainwright restated a "buy" rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $25.11.

Ocular Therapeutix Trading Up 2.7%

Shares of OCUL stock opened at $9.96 on Tuesday. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The stock's fifty day moving average price is $9.21 and its two-hundred day moving average price is $9.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The company has a market cap of $2.18 billion, a PE ratio of -6.82 and a beta of 0.88.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider directly owned 2,597,170 shares of the company's stock, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sold 28,999 shares of company stock worth $237,792 over the last quarter. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OCUL. Summer Road LLC grew its holdings in Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company's stock worth $100,622,000 after acquiring an additional 771,270 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company's stock valued at $140,523,000 after acquiring an additional 2,411,953 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in shares of Ocular Therapeutix by 5.1% during the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company's stock valued at $130,842,000 after acquiring an additional 527,777 shares during the last quarter. TCG Crossover Management LLC lifted its holdings in shares of Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company's stock worth $71,510,000 after purchasing an additional 798,084 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Ocular Therapeutix by 15.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company's stock worth $56,148,000 after purchasing an additional 620,700 shares during the period. Institutional investors own 59.21% of the company's stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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