Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Upgraded by Wall Street Zen

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

Several other research analysts have also recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. HC Wainwright lifted their price objective on Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, Chardan Capital reiterated a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, December 9th. Eleven 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Ocular Therapeutix Trading Up 2.8%

Shares of NASDAQ:OCUL opened at $9.16 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. Ocular Therapeutix has a 1 year low of $5.78 and a 1 year high of $16.44. The company has a market cap of $1.99 billion, a P/E ratio of -6.36 and a beta of 0.90. The stock’s fifty day moving average price is $11.82 and its 200-day moving average price is $11.93.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The company had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. During the same period last year, the company earned ($0.29) EPS. Ocular Therapeutix’s revenue for the quarter was down 22.4% on a year-over-year basis. Sell-side analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In other news, COO Donald Notman sold 6,035 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $8.54, for a total value of $51,538.90. Following the transaction, the chief operating officer owned 377,802 shares of the company’s stock, valued at $3,226,429.08. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 893 shares during the period. KBC Group NV bought a new position in Ocular Therapeutix in the 4th quarter worth $78,000. Quarry LP purchased a new stake in Ocular Therapeutix in the 3rd quarter worth $80,000. Finally, Trust Co. of Vermont raised its holdings in Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 1,750 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.