Ocular Therapeutix (OCUL) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Ocular Therapeutix (NASDAQ: OCUL):

• 6/21/2024 – Ocular Therapeutix had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $15.00 price target on the stock.
• 6/21/2024 – Ocular Therapeutix was downgraded by analysts at TD Cowen from a “strong-buy” rating to a “hold” rating.
• 6/20/2024 – Ocular Therapeutix was upgraded by analysts at TD Cowen from a “hold” rating to a “buy” rating. They now have a $11.00 price target on the stock, up previously from $7.00.
• 6/14/2024 – Ocular Therapeutix had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $15.00 price target on the stock.
• 6/14/2024 – Ocular Therapeutix had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $14.00 price target on the stock.
• 5/31/2024 – Ocular Therapeutix is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $15.00 price target on the stock.
• 5/8/2024 – Ocular Therapeutix had its price target lowered by analysts at JMP Securities from $24.00 to $22.00. They now have a “market outperform” rating on the stock.
• 5/8/2024 – Ocular Therapeutix had its price target lowered by analysts at TD Cowen from $11.00 to $7.00. They now have a “hold” rating on the stock.
• 5/8/2024 – Ocular Therapeutix had its price target lowered by analysts at HC Wainwright from $16.00 to $14.00. They now have a “buy” rating on the stock.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock traded up $0.07 during trading on Wednesday, reaching $6.63. The company had a trading volume of 2,574,830 shares, compared to its average volume of 2,336,042. The company has a debt-to-equity ratio of 0.16, a quick ratio of 21.29 and a current ratio of 21.39. The firm’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $6.33. The firm has a market capitalization of $1.03 billion, a PE ratio of -4.91 and a beta of 1.42. Ocular Therapeutix, Inc. has a 1-year low of $2.00 and a 1-year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. The company had revenue of $14.77 million during the quarter, compared to analyst estimates of $15.43 million. As a group, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently bought and sold shares of the company. Great Point Partners LLC acquired a new stake in Ocular Therapeutix in the 4th quarter valued at about $3,122,000. Artia Global Partners LP purchased a new position in Ocular Therapeutix during the fourth quarter worth approximately $1,962,000. Deltec Asset Management LLC lifted its position in Ocular Therapeutix by 18.5% during the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after buying an additional 381,810 shares in the last quarter. Legato Capital Management LLC acquired a new position in Ocular Therapeutix during the fourth quarter worth $667,000. Finally, Franklin Resources Inc. purchased a new stake in Ocular Therapeutix in the 4th quarter valued at $20,071,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.