Ocular Therapeutix (OCUL) Lifted to “Buy” at Zacks Investment Research

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $6.25 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 18.15% from the stock’s previous close.

According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “

Several other research firms have also weighed in on OCUL. HC Wainwright set a $10.00 price objective on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research note on Friday, July 20th. Cantor Fitzgerald set a $22.00 price objective on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. JMP Securities restated a “buy” rating and set a $9.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, October 11th. Finally, BidaskClub upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.81.

Shares of OCUL stock opened at $5.29 on Wednesday. The company has a current ratio of 4.35, a quick ratio of 4.34 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a 1 year low of $3.30 and a 1 year high of $8.28. The firm has a market capitalization of $217.40 million, a price-to-earnings ratio of -2.40 and a beta of 1.55.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Ocular Therapeutix had a negative net margin of 2,822.15% and a negative return on equity of 133.73%. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.45 million. Research analysts expect that Ocular Therapeutix will post -1.55 EPS for the current year.

In other news, CEO Antony C. Mattessich acquired 20,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of $5.95 per share, for a total transaction of $119,000.00. Following the purchase, the chief executive officer now directly owns 57,900 shares of the company’s stock, valued at $344,505. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in Ocular Therapeutix by 24.1% during the 1st quarter. Northern Trust Corp now owns 324,526 shares of the biopharmaceutical company’s stock worth $2,112,000 after acquiring an additional 62,993 shares during the period. BlackRock Inc. lifted its position in Ocular Therapeutix by 19.6% during the 1st quarter. BlackRock Inc. now owns 1,696,612 shares of the biopharmaceutical company’s stock worth $11,046,000 after acquiring an additional 278,035 shares during the period. The Manufacturers Life Insurance Company lifted its position in Ocular Therapeutix by 328.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 24,123 shares of the biopharmaceutical company’s stock worth $157,000 after acquiring an additional 18,492 shares during the period. California State Teachers Retirement System lifted its position in Ocular Therapeutix by 22.9% during the 1st quarter. California State Teachers Retirement System now owns 43,920 shares of the biopharmaceutical company’s stock worth $286,000 after acquiring an additional 8,181 shares during the period. Finally, Millennium Management LLC lifted its position in Ocular Therapeutix by 91.0% during the 1st quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock worth $276,000 after acquiring an additional 20,192 shares during the period. 57.09% of the stock is owned by institutional investors and hedge funds.

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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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