Ocular Therapeutix Inc. (OCUL) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “
A number of other brokerages have also issued reports on OCUL. JMP Securities began coverage on Ocular Therapeutix in a research note on Thursday, August 11th. They issued an outperform rating and a $5.84 price target on the stock. BTIG Research restated a buy rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, July 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $19.07.
Shares of Ocular Therapeutix (NASDAQ:OCUL) opened at 6.31 on Wednesday. The stock’s 50 day moving average price is $6.74 and its 200 day moving average price is $7.96. Ocular Therapeutix has a one year low of $4.04 and a one year high of $17.34. The stock’s market capitalization is $156.62 million.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.03. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. The company had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.55 million. During the same period last year, the company earned ($0.45) earnings per share. Ocular Therapeutix’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts predict that Ocular Therapeutix will post ($1.87) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Ocular Therapeutix by 3.1% in the second quarter. ProShare Advisors LLC now owns 20,623 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 614 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Ocular Therapeutix during the second quarter valued at about $111,000. Teachers Advisors Inc. boosted its position in Ocular Therapeutix by 17.9% in the second quarter. Teachers Advisors Inc. now owns 25,268 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 3,836 shares in the last quarter. Alliancebernstein L.P. boosted its position in Ocular Therapeutix by 127.5% in the second quarter. Alliancebernstein L.P. now owns 27,300 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 15,300 shares in the last quarter. Finally, Veritable L.P. boosted its position in Ocular Therapeutix by 50.7% in the second quarter. Veritable L.P. now owns 30,143 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 10,143 shares in the last quarter. 78.45% of the stock is owned by institutional investors and hedge funds.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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