Zacks Investment Research cut shares of Ocular Therapeutix Inc. (NASDAQ:OCUL) from a buy rating to a hold rating in a research report report published on Wednesday.

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. “

OCUL has been the subject of a number of other reports. BTIG Research restated a buy rating and set a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, July 26th. JMP Securities started coverage on Ocular Therapeutix in a research note on Thursday, August 11th. They set an outperform rating and a $5.84 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $19.07.

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL) opened at 6.31 on Wednesday. The company’s market capitalization is $156.62 million. Ocular Therapeutix has a 12 month low of $4.04 and a 12 month high of $17.34. The firm’s 50-day moving average is $6.74 and its 200-day moving average is $7.96.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.03. The business earned $0.44 million during the quarter, compared to the consensus estimate of $0.55 million. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.45) EPS. Equities analysts anticipate that Ocular Therapeutix will post ($1.87) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Ocular Therapeutix by 123.6% in the second quarter. Jennison Associates LLC now owns 2,972,606 shares of the biopharmaceutical company’s stock valued at $14,714,000 after buying an additional 1,643,261 shares during the period. FMR LLC boosted its stake in shares of Ocular Therapeutix by 16.7% in the second quarter. FMR LLC now owns 3,711,552 shares of the biopharmaceutical company’s stock valued at $18,372,000 after buying an additional 531,995 shares during the period. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Ocular Therapeutix during the second quarter valued at about $1,750,000. Opaleye Management Inc. purchased a new stake in shares of Ocular Therapeutix during the second quarter valued at about $1,287,000. Finally, Columbus Circle Investors boosted its stake in shares of Ocular Therapeutix by 47.9% in the second quarter. Columbus Circle Investors now owns 278,785 shares of the biopharmaceutical company’s stock valued at $1,380,000 after buying an additional 90,283 shares during the period. 78.45% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.

5 Day Chart for NASDAQ:OCUL

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