Ocular Therapeutix Inc. (OCUL) Given Average Rating of “Buy” by Brokerages
Ocular Therapeutix Inc. (NASDAQ:OCUL) has been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.77.
A number of research analysts recently weighed in on OCUL shares. Zacks Investment Research raised shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a report on Friday, August 12th. BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Sunday, October 23rd. RBC Capital Markets reissued an “outperform” rating and issued a $32.00 target price (up from $30.00) on shares of Ocular Therapeutix in a report on Tuesday, November 15th. Royal Bank Of Canada raised their target price on shares of Ocular Therapeutix from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, November 15th. Finally, JMP Securities started coverage on shares of Ocular Therapeutix in a report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 target price for the company.
Shares of Ocular Therapeutix (NASDAQ:OCUL) traded up 7.18% on Friday, reaching $11.50. 989,718 shares of the company’s stock were exchanged. Ocular Therapeutix has a one year low of $4.04 and a one year high of $14.50. The company’s 50 day moving average is $7.00 and its 200-day moving average is $6.98. The stock’s market cap is $286.11 million.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.11. Ocular Therapeutix had a negative net margin of 2,346.47% and a negative return on equity of 56.23%. On average, analysts anticipate that Ocular Therapeutix will post ($1.77) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. ProShare Advisors LLC increased its stake in shares of Ocular Therapeutix by 3.1% in the second quarter. ProShare Advisors LLC now owns 20,623 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 614 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Ocular Therapeutix during the second quarter worth about $111,000. Teachers Advisors Inc. increased its stake in shares of Ocular Therapeutix by 17.9% in the second quarter. Teachers Advisors Inc. now owns 25,268 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 3,836 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Ocular Therapeutix by 127.5% in the second quarter. Alliancebernstein L.P. now owns 27,300 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 15,300 shares in the last quarter. Finally, Veritable L.P. increased its stake in shares of Ocular Therapeutix by 50.7% in the second quarter. Veritable L.P. now owns 30,143 shares of the biopharmaceutical company’s stock worth $149,000 after buying an additional 10,143 shares in the last quarter. 76.18% of the stock is owned by hedge funds and other institutional investors.
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.
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