Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.67.

Several brokerages recently issued reports on OCUL. TD Cowen lowered Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Robert W. Baird lowered their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st. Finally, JMP Securities reduced their target price on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC acquired a new position in Ocular Therapeutix during the 2nd quarter valued at about $34,000. Amalgamated Bank boosted its stake in Ocular Therapeutix by 37.9% during the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. Trust Co. of Vermont boosted its stake in Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Ocular Therapeutix by 142.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 5,730 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Ocular Therapeutix in the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Stock Up 1.9 %

Shares of OCUL opened at $9.11 on Monday. Ocular Therapeutix has a 52 week low of $2.00 and a 52 week high of $11.31. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The stock has a fifty day moving average of $7.57 and a 200-day moving average of $7.34.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The firm had revenue of $16.40 million during the quarter, compared to the consensus estimate of $15.85 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

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-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.