Zacks Investment Research Lowers Ocular Therapeutix, Inc. (OCUL) to Sell

Zacks Investment Research downgraded shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “

Other analysts have also recently issued reports about the company. ValuEngine cut Ocular Therapeutix from a sell rating to a strong sell rating in a report on Thursday, September 21st. BTIG Research restated a neutral rating on shares of Ocular Therapeutix in a report on Thursday, August 10th. HC Wainwright restated a buy rating and issued a $10.00 target price on shares of Ocular Therapeutix in a report on Wednesday, August 9th. Cantor Fitzgerald dropped their target price on Ocular Therapeutix from $35.00 to $21.00 and set an overweight rating for the company in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an equal weight rating and issued a $8.00 target price (down from $16.00) on shares of Ocular Therapeutix in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $22.29.

Shares of Ocular Therapeutix (NASDAQ:OCUL) traded up 0.17% during mid-day trading on Wednesday, reaching $5.77. The company had a trading volume of 190,955 shares. The stock’s 50-day moving average price is $6.15 and its 200 day moving average price is $7.74. The company’s market capitalization is $167.65 million. Ocular Therapeutix has a 1-year low of $4.82 and a 1-year high of $11.91.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.05). The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.51 million. Ocular Therapeutix had a negative net margin of 3,005.52% and a negative return on equity of 101.03%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) earnings per share. Equities analysts expect that Ocular Therapeutix will post ($2.29) EPS for the current year.

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Several institutional investors have recently made changes to their positions in OCUL. Voya Investment Management LLC acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at $102,000. American International Group Inc. lifted its stake in shares of Ocular Therapeutix by 8.2% in the 1st quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 844 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at $107,000. Nationwide Fund Advisors lifted its stake in shares of Ocular Therapeutix by 10.8% in the 2nd quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,204 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at $167,000. 53.25% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.

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