HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

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

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird cut their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $11.33 on Wednesday. The business’s 50-day simple moving average is $9.02 and its 200 day simple moving average is $7.46. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The company has a market cap of $1.77 billion, a P/E ratio of -8.39 and a beta of 1.29.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The business had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) EPS. On average, sell-side analysts forecast that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in OCUL. Virtu Financial LLC bought a new position in Ocular Therapeutix during the 4th quarter worth $277,000. Trust Co. of Vermont grew its position in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Principal Financial Group Inc. increased its position in Ocular Therapeutix by 27.0% during the 1st quarter. Principal Financial Group Inc. now owns 27,880 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 5,921 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ocular Therapeutix in the 1st quarter valued at $486,000. Finally, BNP Paribas Financial Markets raised its position in Ocular Therapeutix by 373.1% in the first quarter. BNP Paribas Financial Markets now owns 185,308 shares of the biopharmaceutical company’s stock valued at $1,686,000 after purchasing an additional 146,138 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

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.