Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) had its price objective lowered by equities research analysts at Robert W. Baird from $18.00 to $17.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price objective points to a potential upside of 103.84% from the company’s previous close.
A number of other research firms also recently weighed in on OCUL. Piper Sandler restated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Friday, June 21st. TD Cowen lowered Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a report on Thursday, August 1st. Finally, JMP Securities decreased their price objective on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.67.
Read Our Latest Analysis on Ocular Therapeutix
Ocular Therapeutix Trading Up 3.9 %
Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. The business had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. During the same period in the previous year, the business posted ($0.27) EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.
Hedge Funds Weigh In On Ocular Therapeutix
Several large investors have recently modified their holdings of OCUL. SG Americas Securities LLC increased its position in shares of Ocular Therapeutix by 60.5% during the 4th quarter. SG Americas Securities LLC now owns 19,646 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 7,404 shares during the last quarter. Raymond James & Associates increased its position in shares of Ocular Therapeutix by 7.0% during the 4th quarter. Raymond James & Associates now owns 129,012 shares of the biopharmaceutical company’s stock valued at $575,000 after purchasing an additional 8,451 shares during the last quarter. Simplicity Solutions LLC purchased a new position in Ocular Therapeutix during the 4th quarter valued at $201,000. Victory Capital Management Inc. purchased a new position in Ocular Therapeutix during the 4th quarter valued at $45,000. Finally, Essex Investment Management Co. LLC purchased a new position in Ocular Therapeutix during the 4th quarter valued at $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.
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