Ocular Therapeutix (NASDAQ:OCUL) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ocular Therapeutix from “sell” to “hold,” while broader analyst sentiment remains favorable: 11 analysts rate the stock a Buy and two rate it a Sell. MarketBeat assigns a “Moderate Buy” consensus with an average price target of $25.75.
• Ocular Therapeutix shares opened at $9.19, near their 50-day and 200-day moving averages of approximately $9.15 and $9.11, respectively. The stock has traded between $6.23 and $16.44 over the past year.
• The company reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, beating analyst estimates for revenue of $13.20 million and a loss of $0.40 per share; analysts expect a full-year loss of about $1.50 per share.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Chardan Capital reissued a "buy" rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. HC Wainwright restated a "buy" rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Finally, Zacks Research lowered Ocular Therapeutix from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.75.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $9.19 on Friday. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The company has a 50 day simple moving average of $9.15 and a two-hundred day simple moving average of $9.11. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -6.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 14.73 and a current ratio of 13.10.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. During the same period last year, the business earned ($0.39) earnings per share. The business's revenue was down .1% on a year-over-year basis. Analysts expect that Ocular Therapeutix will post -1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,156 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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. In the last ninety days, insiders have sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is owned by insiders.

Institutional Trading of Ocular Therapeutix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empire Life Investments Inc. boosted its holdings in shares of Ocular Therapeutix by 115.0% during the 4th quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company's stock valued at $6,557,000 after acquiring an additional 288,853 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of Ocular Therapeutix by 12.8% during the first quarter. Candriam S.C.A. now owns 949,216 shares of the biopharmaceutical company's stock valued at $8,040,000 after purchasing an additional 107,614 shares during the last quarter. Octagon Capital Advisors LP raised its holdings in shares of Ocular Therapeutix by 20.7% during the first quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company's stock valued at $26,821,000 after purchasing an additional 543,000 shares during the last quarter. Commodore Capital LP purchased a new position in shares of Ocular Therapeutix during the first quarter valued at approximately $21,810,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $3,800,000. 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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