Ocular Therapeutix, Inc. (OCUL) Earns “Buy” Rating from Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their buy rating on shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in a research report report published on Monday. The firm currently has a $21.00 target price on the biopharmaceutical company’s stock.
“Presentation at our conference emphasized added biopharma leadership experience to a previously medical technology-focused company.”,” the firm’s analyst commented.
Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Ocular Therapeutix from a sell rating to a hold rating in a report on Tuesday, June 6th. BTIG Research reissued a neutral rating on shares of Ocular Therapeutix in a report on Thursday, August 10th. HC Wainwright reissued a buy rating and issued a $10.00 price target on shares of Ocular Therapeutix in a report on Wednesday, August 9th. Finally, Morgan Stanley reissued an equal weight rating and issued a $8.00 price target (down previously from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Ocular Therapeutix has a consensus rating of Hold and a consensus target price of $22.14.
Shares of Ocular Therapeutix (NASDAQ:OCUL) traded down 0.16% during trading on Monday, hitting $6.42. 5,072 shares of the company were exchanged. Ocular Therapeutix has a 12 month low of $4.82 and a 12 month high of $11.91. The firm’s market capitalization is $186.54 million. The firm’s 50-day moving average price is $6.09 and its 200 day moving average price is $8.31.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.05). The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.51 million. Ocular Therapeutix had a negative return on equity of 101.03% and a negative net margin of 3,005.52%. Ocular Therapeutix’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. On average, equities research analysts expect that Ocular Therapeutix will post ($2.25) earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC purchased a new stake in shares of Ocular Therapeutix during the second quarter worth $102,000. American International Group Inc. grew its holdings in shares of Ocular Therapeutix by 8.2% during the first quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 844 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Ocular Therapeutix during the first quarter worth $107,000. Janney Montgomery Scott LLC purchased a new stake in shares of Ocular Therapeutix during the first quarter worth $110,000. Finally, Nationwide Fund Advisors grew its holdings in shares of Ocular Therapeutix by 10.8% during the second quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,204 shares in the last quarter. 53.42% of the stock is 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.
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