Ocular Therapeutix, Inc. (OCUL) Earns Neutral Rating from BTIG Research
Ocular Therapeutix, Inc. (NASDAQ:OCUL)‘s stock had its “neutral” rating reaffirmed by BTIG Research in a research report issued on Thursday.
OCUL has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Ocular Therapeutix in a research note on Friday, May 5th. ValuEngine raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. HC Wainwright set a $10.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price objective (down previously from $16.00) on shares of Ocular Therapeutix in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Ocular Therapeutix currently has a consensus rating of “Hold” and an average price target of $20.11.
Shares of Ocular Therapeutix (NASDAQ:OCUL) opened at 5.78 on Thursday. Ocular Therapeutix has a 12-month low of $4.82 and a 12-month high of $11.91. The company’s market capitalization is $167.78 million. The stock has a 50 day moving average of $7.95 and a 200-day moving average of $8.71.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $0.05. Ocular Therapeutix had a negative net margin of 2,620.06% and a negative return on equity of 80.26%. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.51 million. During the same period in the previous year, the business posted ($0.46) EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts forecast that Ocular Therapeutix will post ($2.19) EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. increased its position in shares of Ocular Therapeutix by 8.2% in the first quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 844 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Ocular Therapeutix during the first quarter worth about $107,000. Janney Montgomery Scott LLC purchased a new position in shares of Ocular Therapeutix during the first quarter worth about $110,000. State of Wisconsin Investment Board purchased a new position in shares of Ocular Therapeutix during the second quarter worth about $167,000. Finally, Alps Advisors Inc. increased its position in shares of Ocular Therapeutix by 5.9% in the second quarter. Alps Advisors Inc. now owns 26,201 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 1,462 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.
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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