Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Upgraded by Zacks Research

Key Points

• Ocular Therapeutix has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, signaling a shift in analyst sentiment regarding the stock.
• Multiple analysts have increased their target prices for Ocular Therapeutix, with revisions ranging from $24.00 to $31.00, reflecting optimism about the company's performance.
• The company's stock recently rose 3.2% and has a current market cap of $1.99 billion, despite reporting a quarterly loss and a decrease in revenue compared to the previous year.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Robert W. Baird increased their target price on Ocular Therapeutix from $17.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday. JMP Securities increased their target price on Ocular Therapeutix from $20.00 to $29.00 and gave the company a "market outperform" rating in a research note on Wednesday. Piper Sandler increased their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday. Scotiabank reduced their target price on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Ocular Therapeutix in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ocular Therapeutix has an average rating of "Moderate Buy" and an average price target of $22.13.

Ocular Therapeutix Stock Up 3.2%

NASDAQ OCUL opened at $11.41 on Thursday. The stock has a market cap of $1.99 billion, a PE ratio of -8.91 and a beta of 1.45. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $12.30 and a two-hundred day moving average price of $9.72. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The business had revenue of $13.46 million for the quarter, compared to analysts' expectations of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The business's quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) earnings per share. As a group, sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 3,063 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the sale, the insider directly owned 259,911 shares of the company's stock, valued at approximately $3,129,328.44. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,494 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $258,787.76. Following the completion of the sale, the insider directly owned 3,227,244 shares in the company, valued at $38,856,017.76. This represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,519 shares of company stock valued at $367,865. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 1,392 shares during the period. Brooklyn Investment Group increased its position in Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 893 shares during the period. Trust Co. of Vermont increased its position in Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company's stock worth $67,000 after buying an additional 1,000 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 8,112 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.