Ocular Therapeutix’s (OCUL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report released on Friday, Benzinga reports. HC Wainwright currently has a $14.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. Piper Sandler initiated coverage on shares of Ocular Therapeutix in a research note on Friday, May 31st. They issued an overweight rating and a $15.00 price target for the company. JMP Securities reduced their price target on shares of Ocular Therapeutix from $24.00 to $22.00 and set a market outperform rating for the company in a research note on Wednesday, May 8th. StockNews.com lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Friday, April 5th. Finally, TD Cowen reduced their price target on shares of Ocular Therapeutix from $11.00 to $7.00 and set a hold rating for the company in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix currently has an average rating of Moderate Buy and an average target price of $15.17.

Ocular Therapeutix Stock Up 14.1 %

NASDAQ:OCUL opened at $5.75 on Friday. The firm has a market cap of $890.61 million, a P/E ratio of -4.26 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 21.29 and a current ratio of 21.39. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The firm has a 50-day simple moving average of $5.91 and a two-hundred day simple moving average of $6.20.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $14.77 million for the quarter, compared to the consensus estimate of $15.43 million. Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. Analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont boosted its holdings in shares of Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 350.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 5,730 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ocular Therapeutix in the fourth quarter worth approximately $45,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Ocular Therapeutix in the first quarter worth approximately $94,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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 in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.