Jennison Associates LLC lifted its stake in shares of Ocular Therapeutix Inc (NASDAQ:OCUL) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,335,989 shares of the biopharmaceutical company’s stock after acquiring an additional 16,734 shares during the quarter. Jennison Associates LLC owned approximately 6.05% of Ocular Therapeutix worth $16,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Ocular Therapeutix during the second quarter worth about $117,000. Millennium Management LLC raised its position in shares of Ocular Therapeutix by 91.0% during the first 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 last quarter. Wells Fargo & Company MN raised its position in shares of Ocular Therapeutix by 37.0% during the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 12,170 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Ocular Therapeutix by 35.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 72,559 shares of the biopharmaceutical company’s stock worth $490,000 after acquiring an additional 18,989 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Ocular Therapeutix by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 94,294 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 11,276 shares during the last quarter. Institutional investors own 52.15% of the company’s stock.
A number of brokerages have recently issued reports on OCUL. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Wednesday, November 14th. HC Wainwright set a $10.00 price objective on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Cantor Fitzgerald set a $22.00 price objective on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Tuesday, August 7th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, JMP Securities restated a “buy” rating and set a $9.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.45.
Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Ocular Therapeutix had a negative return on equity of 133.73% and a negative net margin of 2,822.15%. The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.45 million. On average, equities research analysts forecast that Ocular Therapeutix Inc will post -1.54 EPS for the current fiscal year.
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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 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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