Ocular Therapeutix (NASDAQ:OCUL) Rating Lowered to Strong Sell at Zacks Research

Ocular Therapeutix (NASDAQ:OCUL) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on OCUL. Chardan Capital boosted their price objective on Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Robert W. Baird lifted their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix Trading Up 2.7%

NASDAQ OCUL opened at $9.96 on Tuesday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -6.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. Ocular Therapeutix has a 12 month low of $6.23 and a 12 month high of $16.44. The company’s fifty day moving average price is $9.21 and its two-hundred day moving average price is $9.44.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,999 shares of company stock valued at $237,792 in the last three months. Insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its stake in Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Ocular Therapeutix in the fourth quarter valued at $31,000. Hilton Head Capital Partners LLC bought a new stake in Ocular Therapeutix in the fourth quarter valued at $42,000. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix during the fourth quarter valued at $61,000. Finally, State of Wyoming acquired a new position in shares of Ocular Therapeutix during the fourth quarter valued at $78,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.