Ocular Therapeutix (NASDAQ:OCUL) Raised to “Hold” at Wall Street Zen

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts also recently weighed in on OCUL. Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Robert W. Baird boosted their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. HC Wainwright upped their price target on Ocular Therapeutix from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. Finally, Chardan Capital restated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Ocular Therapeutix Trading Up 0.2%

Shares of OCUL stock opened at $12.13 on Monday. The firm has a fifty day moving average of $11.69 and a 200-day moving average of $10.86. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -9.48 and a beta of 1.53. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $14.54 million for the quarter, compared to analyst estimates of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. On average, equities research analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of Ocular Therapeutix stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $115,942.08. Following the completion of the transaction, the insider directly owned 249,409 shares of the company’s stock, valued at $2,753,475.36. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Kaiser sold 9,653 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total transaction of $106,472.59. Following the transaction, the insider owned 194,440 shares in the company, valued at approximately $2,144,673.20. This trade represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,353 shares of company stock worth $373,034. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of OCUL. Avoro Capital Advisors LLC lifted its position in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after purchasing an additional 2,850,000 shares in the last quarter. Vanguard Group Inc. raised its position in Ocular Therapeutix by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after purchasing an additional 771,065 shares during the last quarter. TCG Crossover Management LLC lifted its holdings in Ocular Therapeutix by 15.0% during the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after buying an additional 798,084 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Ocular Therapeutix by 44.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after acquiring an additional 1,600,000 shares during the period. Finally, Millennium Management LLC increased its position in Ocular Therapeutix by 3,136.1% in the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after purchasing an additional 3,736,560 shares during the period. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile

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.