Ocular Therapeutix (NASDAQ:OCUL) Earns “Buy” Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $14.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 36.85% from the stock’s current price.

Several other research firms have also recently commented on OCUL. TD Cowen cut Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. Robert W. Baird lowered their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Ocular Therapeutix Stock Down 2.2 %

NASDAQ OCUL opened at $10.23 on Wednesday. The stock has a fifty day moving average of $8.84 and a 200-day moving average of $7.38. The stock has a market capitalization of $1.58 billion, a P/E ratio of -7.58 and a beta of 1.29. Ocular Therapeutix has a 52 week low of $2.00 and a 52 week high of $11.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted ($0.27) earnings per share. On average, equities research analysts forecast that Ocular Therapeutix will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Ocular Therapeutix in the 4th quarter valued at $277,000. Trust Co. of Vermont raised its position in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ocular Therapeutix by 27.0% in the 1st quarter. Principal Financial Group Inc. now owns 27,880 shares of the biopharmaceutical company’s stock worth $254,000 after acquiring an additional 5,921 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ocular Therapeutix in the 1st quarter worth about $486,000. Finally, BNP Paribas Financial Markets raised its position in shares of Ocular Therapeutix by 373.1% in the 1st quarter. BNP Paribas Financial Markets now owns 185,308 shares of the biopharmaceutical company’s stock worth $1,686,000 after acquiring an additional 146,138 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

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.