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

Zacks Investment Research cut shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “

Other analysts also recently issued research reports about the stock. Raymond James boosted their target price on shares of Ocular Therapeutix from $25.00 to $29.00 and gave the stock a strong-buy rating in a research report on Monday, October 18th. HC Wainwright reissued a buy rating and set a $14.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 7th. JMP Securities boosted their target price on shares of Ocular Therapeutix from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Tuesday, November 9th. Finally, Piper Sandler dropped their price objective on shares of Ocular Therapeutix from $27.00 to $20.00 and set an overweight rating on the stock in a report on Sunday, October 24th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix has a consensus rating of Buy and a consensus price target of $21.00.

NASDAQ:OCUL opened at $6.20 on Tuesday. The company has a market cap of $474.98 million, a PE ratio of -3.21 and a beta of 1.73. Ocular Therapeutix has a twelve month low of $5.99 and a twelve month high of $21.48. The company has a current ratio of 8.11, a quick ratio of 8.06 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $6.75 and its two-hundred day moving average is $9.36.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, November 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. The company had revenue of $12.15 million for the quarter, compared to the consensus estimate of $12.13 million. Ocular Therapeutix had a negative net margin of 229.02% and a negative return on equity of 22.95%. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, analysts expect that Ocular Therapeutix will post -0.27 EPS for the current fiscal year.

In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 55,600 shares of the company’s stock in a transaction dated Monday, December 6th. The shares were acquired at an average cost of $6.13 per share, with a total value of $340,828.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought a total of 116,410 shares of company stock worth $737,718 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new position in shares of Ocular Therapeutix in the 3rd quarter valued at $212,000. Macquarie Group Ltd. lifted its stake in shares of Ocular Therapeutix by 203.2% in the 2nd quarter. Macquarie Group Ltd. now owns 3,590 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 2,406 shares during the period. Versor Investments LP acquired a new position in Ocular Therapeutix during the third quarter worth $103,000. Teacher Retirement System of Texas acquired a new position in Ocular Therapeutix during the third quarter worth $103,000. Finally, Virginia Retirement Systems ET AL acquired a new position in Ocular Therapeutix during the third quarter worth $104,000. Hedge funds and other institutional investors own 57.95% of the company’s stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.

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