Ocular Therapeutix (NASDAQ:OCUL) Earns “Buy” Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Friday, TipRanks reports. They presently have a $9.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 164.71% from the stock’s previous close.

OCUL has been the topic of a number of other reports. JMP Securities set a $9.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research note on Friday, June 21st. Piper Jaffray Companies set a $8.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, ValuEngine raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.18.

NASDAQ:OCUL opened at $3.40 on Friday. The company has a current ratio of 6.46, a quick ratio of 6.39 and a debt-to-equity ratio of 7.06. The stock has a market capitalization of $160.48 million, a price-to-earnings ratio of -2.17 and a beta of 2.12. The firm has a fifty day simple moving average of $3.70 and a two-hundred day simple moving average of $3.99. Ocular Therapeutix has a 12 month low of $2.35 and a 12 month high of $6.88.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). Ocular Therapeutix had a negative net margin of 3,450.84% and a negative return on equity of 256.69%. The business had revenue of $0.65 million during the quarter, compared to the consensus estimate of $1.00 million. Equities analysts predict that Ocular Therapeutix will post -1.57 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $52,000. Highland Capital Management LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $62,000. Sio Capital Management LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $263,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ocular Therapeutix by 37.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 100,658 shares of the biopharmaceutical company’s stock valued at $443,000 after purchasing an additional 27,585 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Ocular Therapeutix by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 105,467 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 2,990 shares in the last quarter. 47.96% of the stock is currently owned by institutional investors.

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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

Featured Story: How to invest in a bear market

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.