Ocular Therapeutix (OCUL) Shares Down 5.6%

Ocular Therapeutix Inc (NASDAQ:OCUL) dropped 5.6% during trading on Friday . The stock traded as low as $6.02 and last traded at $6.07. Approximately 587,100 shares traded hands during trading, an increase of 40% from the average daily volume of 419,698 shares. The stock had previously closed at $6.43.

OCUL has been the subject of several research analyst reports. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research note on Wednesday, July 11th. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Ocular Therapeutix in a research note on Thursday, June 21st. BidaskClub upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Cantor Fitzgerald set a $22.00 price target on Ocular Therapeutix and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Finally, ValuEngine upgraded Ocular Therapeutix from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 13th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Ocular Therapeutix has an average rating of “Hold” and a consensus target price of $12.81.

The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.89 and a current ratio of 4.90.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.02). Ocular Therapeutix had a negative return on equity of 153.53% and a negative net margin of 3,418.79%. The company had revenue of $0.34 million during the quarter. equities research analysts predict that Ocular Therapeutix Inc will post -1.55 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of OCUL. BlackRock Inc. boosted its position in shares of Ocular Therapeutix by 0.8% in the fourth quarter. BlackRock Inc. now owns 1,418,577 shares of the biopharmaceutical company’s stock worth $6,312,000 after buying an additional 11,293 shares during the period. Deutsche Bank AG boosted its position in shares of Ocular Therapeutix by 148.7% in the fourth quarter. Deutsche Bank AG now owns 50,065 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 29,938 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Ocular Therapeutix by 39.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 53,570 shares of the biopharmaceutical company’s stock worth $349,000 after buying an additional 15,100 shares during the period. Summer Road LLC purchased a new stake in shares of Ocular Therapeutix in the first quarter worth about $19,709,000. Finally, Northern Trust Corp boosted its position in shares of Ocular Therapeutix by 24.1% in the first quarter. Northern Trust Corp now owns 324,526 shares of the biopharmaceutical company’s stock worth $2,112,000 after buying an additional 62,993 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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