Ocular Therapeutix (NASDAQ:OCUL) PT Lowered to $20.00 at Piper Sandler

Ocular Therapeutix (NASDAQ:OCUL) had its price target reduced by Piper Sandler from $27.00 to $20.00 in a research note issued to investors on Sunday, The Fly reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Ocular Therapeutix from a hold rating to a strong sell rating in a report on Wednesday, October 13th. HC Wainwright lifted their target price on shares of Ocular Therapeutix from $17.00 to $18.00 and gave the stock a buy rating in a research note on Tuesday, October 12th. Raymond James lifted their target price on shares of Ocular Therapeutix from $25.00 to $29.00 and gave the stock a strong-buy rating in a research note on Monday, October 18th. Finally, JMP Securities reaffirmed a buy rating and set a $33.00 target price on shares of Ocular Therapeutix in a research note on Friday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix presently has a consensus rating of Buy and a consensus price target of $22.50.

OCUL stock opened at $7.10 on Friday. The firm has a 50 day moving average of $10.61 and a 200 day moving average of $12.95. The stock has a market capitalization of $543.74 million, a PE ratio of -3.72 and a beta of 2.14. The company has a quick ratio of 10.00, a current ratio of 10.05 and a debt-to-equity ratio of 0.63. Ocular Therapeutix has a 52 week low of $6.69 and a 52 week high of $24.30.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, August 9th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.09. The firm had revenue of $11.72 million during the quarter, compared to analyst estimates of $11.70 million. Ocular Therapeutix had a negative net margin of 318.77% and a negative return on equity of 51.58%. On average, equities research analysts expect that Ocular Therapeutix will post -0.59 earnings per share for the current year.

In other news, CEO Antony C. Mattessich purchased 5,000 shares of the stock in a transaction dated Friday, August 20th. The shares were purchased at an average price of $9.89 per share, with a total value of $49,450.00. Following the transaction, the chief executive officer now owns 102,900 shares in the company, valued at approximately $1,017,681. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in Ocular Therapeutix in the third quarter valued at about $104,000. Vigilare Wealth Management lifted its position in Ocular Therapeutix by 31.1% in the third quarter. Vigilare Wealth Management now owns 41,420 shares of the biopharmaceutical company’s stock valued at $414,000 after buying an additional 9,830 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Ocular Therapeutix by 14.9% in the second quarter. Parametric Portfolio Associates LLC now owns 18,341 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 2,376 shares during the last quarter. Endurant Capital Management LP lifted its position in Ocular Therapeutix by 30.1% in the second quarter. Endurant Capital Management LP now owns 570,970 shares of the biopharmaceutical company’s stock valued at $8,096,000 after buying an additional 132,037 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Ocular Therapeutix in the second quarter valued at about $186,000. 63.02% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.

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