HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Thursday morning. The brokerage currently has a $10.00 target price on the biopharmaceutical company’s stock.
“We continue to believe that Dextenza has the potential to obtain regulatory approval in the U.S. by the end of 2018 and start generating revenue around mid-2019. The company plans to apply for a pass-through reimbursement status (C code) for Dextenza. With bundled pricing of cataract surgery, Dextenza should be priced above $480 per dose according to CMS guidelines, in our view. In the wake of this update, we reiterate our Buy rating and $10 price target.”,” HC Wainwright’s analyst wrote.
A number of other research analysts have also recently commented on OCUL. Cantor Fitzgerald reissued a buy rating and issued a $22.00 target price on shares of Ocular Therapeutix in a report on Thursday, March 8th. BTIG Research reissued a buy rating on shares of Ocular Therapeutix in a report on Sunday, March 11th. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $6.50 target price for the company in a report on Tuesday, March 13th. BidaskClub raised Ocular Therapeutix from a sell rating to a hold rating in a research note on Tuesday, March 20th. Finally, ValuEngine raised Ocular Therapeutix from a strong sell rating to a sell rating in a research note on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Ocular Therapeutix has a consensus rating of Buy and a consensus price target of $11.70.
Ocular Therapeutix opened at $7.78 on Thursday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.90 and a quick ratio of 4.89. Ocular Therapeutix has a 12 month low of $3.30 and a 12 month high of $11.00.
Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $0.34 million during the quarter. Ocular Therapeutix had a negative return on equity of 153.53% and a negative net margin of 3,418.79%. equities analysts predict that Ocular Therapeutix will post -1.61 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of Ocular Therapeutix in the first quarter valued at approximately $102,000. The Manufacturers Life Insurance Company increased its stake in shares of Ocular Therapeutix by 328.4% in the first quarter. The Manufacturers Life Insurance Company now owns 24,123 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 18,492 shares during the period. Barclays PLC increased its stake in shares of Ocular Therapeutix by 587.0% in the first quarter. Barclays PLC now owns 28,262 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 24,148 shares during the period. Millennium Management LLC increased its stake in shares of Ocular Therapeutix by 91.0% in the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 20,192 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Ocular Therapeutix by 22.9% in the first quarter. California State Teachers Retirement System now owns 43,920 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 8,181 shares during the period. 57.78% of the stock is 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. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.
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