HC Wainwright Cuts Ocular Therapeutix (NASDAQ:OCUL) Price Target to $10.00

Ocular Therapeutix (NASDAQ:OCUL – Get Rating) had its price objective trimmed by HC Wainwright from $14.00 to $10.00 in a research report report published on Tuesday morning, The Fly reports.

Other equities analysts have also recently issued reports about the company. StockNews.com started coverage on Ocular Therapeutix in a report on Thursday, March 31st. They issued a hold rating for the company. JMP Securities cut their price objective on Ocular Therapeutix from $30.00 to $22.00 and set a market outperform rating for the company in a report on Tuesday, March 1st. Piper Sandler dropped their target price on Ocular Therapeutix from $20.00 to $16.00 in a report on Tuesday. Finally, Zacks Investment Research cut Ocular Therapeutix from a hold rating to a strong sell rating in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ocular Therapeutix currently has a consensus rating of Buy and an average target price of $17.80.

OCUL opened at $3.28 on Tuesday. The stock has a 50-day moving average price of $4.52 and a 200-day moving average price of $5.67. Ocular Therapeutix has a 12-month low of $2.96 and a 12-month high of $15.40. The company has a current ratio of 7.29, a quick ratio of 7.22 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $251.77 million, a P/E ratio of -3.24 and a beta of 1.79.

Ocular Therapeutix (NASDAQ:OCUL – Get Rating) last posted its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). Ocular Therapeutix had a negative return on equity of 26.50% and a negative net margin of 45.00%. The firm had revenue of $12.31 million during the quarter, compared to analysts’ expectations of $14.18 million. During the same period in the prior year, the business earned ($0.23) EPS. On average, equities research analysts predict that Ocular Therapeutix will post -0.81 EPS for the current year.

In related news, major shareholder Summer Road Llc bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $200,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new position in Ocular Therapeutix during the 3rd quarter valued at approximately $212,000. Ahrens Investment Partners LLC bought a new position in Ocular Therapeutix during the 4th quarter valued at approximately $52,000. Teacher Retirement System of Texas bought a new position in Ocular Therapeutix during the 3rd quarter valued at approximately $103,000. Coastal Bridge Advisors LLC bought a new position in Ocular Therapeutix during the 4th quarter valued at approximately $76,000. Finally, Macquarie Group Ltd. raised its position in Ocular Therapeutix by 206.0% during the 3rd quarter. Macquarie Group Ltd. now owns 10,986 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 7,396 shares during the last quarter. 53.94% of the stock is owned by institutional investors and hedge funds.

About Ocular Therapeutix (Get Rating)

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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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