Ocular Therapeutix Inc (NASDAQ:OCUL) – Cantor Fitzgerald lifted their FY2018 EPS estimates for Ocular Therapeutix in a research report issued on Sunday, March 11th, Zacks Investment Research reports. Cantor Fitzgerald analyst E. Piros now anticipates that the biopharmaceutical company will earn ($1.76) per share for the year, up from their previous estimate of ($2.15). Cantor Fitzgerald has a “Buy” rating and a $22.00 price target on the stock.
OCUL has been the subject of several other research reports. BTIG Research reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Sunday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Ocular Therapeutix in a research note on Friday, March 9th. BidaskClub raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. ValuEngine raised shares of Ocular Therapeutix from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.70.
Shares of OCUL stock traded down $0.36 on Wednesday, hitting $6.11. The company’s stock had a trading volume of 442,735 shares, compared to its average volume of 420,371. The company has a current ratio of 3.23, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. Ocular Therapeutix has a fifty-two week low of $3.30 and a fifty-two week high of $11.79. The firm has a market cap of $241.19, a PE ratio of -2.78 and a beta of 1.25.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.14. Ocular Therapeutix had a negative net margin of 3,296.20% and a negative return on equity of 145.73%. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.51 million. During the same quarter in the previous year, the business earned ($0.52) EPS. Ocular Therapeutix’s quarterly revenue was up .0% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC acquired a new position in Ocular Therapeutix during the 2nd quarter worth $102,000. Nationwide Fund Advisors lifted its position in Ocular Therapeutix by 10.8% during the 2nd quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,204 shares during the last quarter. New York State Common Retirement Fund lifted its position in Ocular Therapeutix by 45.3% during the 2nd quarter. New York State Common Retirement Fund now owns 18,600 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 5,799 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Ocular Therapeutix by 24.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Ocular Therapeutix by 4.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 33,417 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 1,422 shares during the last quarter. 36.24% of the stock is owned by hedge funds and other institutional investors.
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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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