Ocular Therapeutix (NASDAQ:OCUL) Given New $7.00 Price Target at TD Cowen

Ocular Therapeutix (NASDAQ:OCUL) had its target price cut by equities researchers at TD Cowen from $11.00 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s price target indicates a potential upside of 24.78% from the stock’s previous close.

Several other analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Ocular Therapeutix in a research note on Friday, April 19th. StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Ocular Therapeutix in a report on Tuesday, April 16th. Bank of America initiated coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 target price for the company. Finally, Piper Sandler raised their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $15.83.

Ocular Therapeutix Stock Down 5.4 %

NASDAQ:OCUL traded down $0.32 during mid-day trading on Wednesday, reaching $5.61. The stock had a trading volume of 1,557,702 shares, compared to its average volume of 2,310,585. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The company has a market capitalization of $868.04 million, a price-to-earnings ratio of -4.52 and a beta of 1.47. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.31. The stock’s 50 day simple moving average is $8.10 and its two-hundred day simple moving average is $5.56.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The company had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. Equities analysts anticipate that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of Ocular Therapeutix stock in a transaction on Monday, February 26th. The stock was bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. Franklin Resources Inc. bought a new stake in Ocular Therapeutix during the fourth quarter worth approximately $20,071,000. Deltec Asset Management LLC raised its stake in shares of Ocular Therapeutix by 18.5% in the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after buying an additional 381,810 shares in the last quarter. Sectoral Asset Management Inc. raised its stake in shares of Ocular Therapeutix by 20.8% in the 3rd quarter. Sectoral Asset Management Inc. now owns 969,350 shares of the biopharmaceutical company’s stock worth $3,044,000 after buying an additional 166,670 shares in the last quarter. Great Point Partners LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $3,122,000. Finally, Artia Global Partners LP bought a new position in Ocular Therapeutix during the fourth quarter valued at about $1,962,000. 59.21% of the stock is currently 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-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.