TD Cowen Cuts Ocular Therapeutix (NASDAQ:OCUL) Price Target to $7.00

Ocular Therapeutix (NASDAQ:OCUL) had its target price dropped by equities researchers at TD Cowen from $11.00 to $7.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s target price indicates a potential upside of 24.78% from the company’s previous close.

A number of other equities research analysts have also commented on OCUL. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price target on shares of Ocular Therapeutix in a report on Tuesday, April 16th. Bank of America assumed coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 price objective for the company. Piper Sandler boosted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Ocular Therapeutix in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Ocular Therapeutix Trading Down 5.4 %

Shares of Ocular Therapeutix stock traded down $0.32 during trading on Wednesday, hitting $5.61. 1,557,702 shares of the company were exchanged, compared to its average volume of 2,310,585. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The firm has a market capitalization of $868.04 million, a P/E ratio of -4.52 and a beta of 1.47. The firm’s fifty day moving average price is $8.10 and its 200 day moving average price is $5.56. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, sell-side analysts expect that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, major shareholder Summer Road Llc acquired 930,851 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the acquisition, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at about $20,071,000. Great Point Partners LLC acquired a new position in Ocular Therapeutix during the fourth quarter worth approximately $3,122,000. Artia Global Partners LP bought a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $1,962,000. Deltec Asset Management LLC lifted its position in shares of Ocular Therapeutix by 18.5% in the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after buying an additional 381,810 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $1,652,000. Institutional investors 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.