Ocular Therapeutix (OCUL) Stock Rating Reaffirmed by HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Tuesday, The Fly reports. They currently have a $12.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 113.90% from the stock’s previous close.

The analysts wrote, “Our price target is derived from a market value of the firm at $573M, which includes a discounted cash flow-based asset value of $580M for DEXTENZA, OTX-TP and ReSure, and excludes projected debt position of $7M at the end of 2019, using a 15% discount rate and 2% terminal growth rate, and assuming 47.7M shares outstanding at the end of 2019. Probabilities of success ascribed to post-surgical ocular pain and inflammation, allergic conjunctivitis and glaucoma are 100%, 40% and 40%, respectively.””

A number of other equities research analysts also recently commented on OCUL. Cantor Fitzgerald set a $22.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a report on Tuesday, August 7th. ValuEngine raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research raised Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Tuesday, August 14th. JMP Securities set a $9.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a report on Monday, August 20th. Finally, Piper Jaffray Companies initiated coverage on Ocular Therapeutix in a report on Thursday, September 6th. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $12.38.

Ocular Therapeutix stock opened at $5.61 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.35 and a quick ratio of 4.34. Ocular Therapeutix has a 52 week low of $3.84 and a 52 week high of $8.28. The stock has a market cap of $230.54 million, a P/E ratio of -2.55 and a beta of 1.63.

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 Zacks’ 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 firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.45 million. On average, equities analysts anticipate that Ocular Therapeutix will post -1.54 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Ocular Therapeutix in the second quarter valued at approximately $117,000. Trexquant Investment LP acquired a new position in Ocular Therapeutix in the third quarter valued at approximately $139,000. Dimensional Fund Advisors LP acquired a new position in Ocular Therapeutix in the third quarter valued at approximately $200,000. Millennium Management LLC lifted its holdings in Ocular Therapeutix by 91.0% in the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock valued at $276,000 after acquiring an additional 20,192 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Ocular Therapeutix by 37.0% in the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 12,170 shares during the period. 52.66% of the stock is owned by institutional investors.

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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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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