Ocular Therapeutix (NASDAQ:OCUL) PT Lowered to $14.00 at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL) had its target price lowered by stock analysts at HC Wainwright from $16.00 to $14.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 144.76% from the stock’s previous close.

A number of other equities research analysts also recently commented on OCUL. JMP Securities decreased their target price on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday. TD Cowen dropped their price objective on shares of Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Piper Sandler upped their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, Bank of America assumed coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Ocular Therapeutix Stock Down 3.5 %

NASDAQ:OCUL traded down $0.21 during mid-day trading on Wednesday, hitting $5.72. 1,995,918 shares of the company’s stock traded hands, compared to its average volume of 2,314,273. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The company has a market capitalization of $885.06 million, a P/E ratio of -4.50 and a beta of 1.47. The company has a fifty day moving average of $8.10 and a 200 day moving average of $5.56.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. On average, analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 930,851 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the acquisition, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its holdings in Ocular Therapeutix by 55.7% during the first quarter. ProShare Advisors LLC now owns 28,498 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 10,194 shares in the last quarter. SG Americas Securities LLC lifted its stake in Ocular Therapeutix by 47.3% in the 1st quarter. SG Americas Securities LLC now owns 28,946 shares of the biopharmaceutical company’s stock valued at $263,000 after buying an additional 9,300 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ocular Therapeutix in the 1st quarter worth about $423,000. Essex Investment Management Co. LLC increased its stake in Ocular Therapeutix by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 376,200 shares of the biopharmaceutical company’s stock worth $3,423,000 after buying an additional 5,828 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ocular Therapeutix by 373.1% during the first quarter. BNP Paribas Financial Markets now owns 185,308 shares of the biopharmaceutical company’s stock valued at $1,686,000 after acquiring an additional 146,138 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.