Ocular Therapeutix’s (OCUL) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Ocular Therapeutix (NASDAQ:OCULFree Report) in a report issued on Friday, Benzinga reports. Piper Sandler currently has a $15.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on OCUL. JMP Securities reduced their price objective on shares of Ocular Therapeutix from $24.00 to $22.00 and set a market outperform rating on the stock in a research note on Wednesday, May 8th. HC Wainwright reiterated a buy rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research note on Friday, June 14th. StockNews.com downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Friday, April 5th. Finally, TD Cowen upgraded shares of Ocular Therapeutix from a hold rating to a buy rating and increased their price objective for the stock from $7.00 to $11.00 in a research note on Thursday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $15.83.

View Our Latest Stock Analysis on OCUL

Ocular Therapeutix Price Performance

NASDAQ:OCUL opened at $6.25 on Friday. The firm has a market cap of $968.06 million, a price-to-earnings ratio of -4.63 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 21.29 and a current ratio of 21.39. Ocular Therapeutix has a 52 week low of $2.00 and a 52 week high of $11.31. The firm’s 50-day simple moving average is $5.68 and its 200 day simple moving average is $6.29.

Ocular Therapeutix (NASDAQ:OCULGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $14.77 million for the quarter, compared to analyst estimates of $15.43 million. Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. As a group, sell-side analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds have recently made changes to their positions in OCUL. Barclays PLC boosted its stake in shares of Ocular Therapeutix by 22.9% in the 3rd quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,840 shares in the last quarter. New York State Common Retirement Fund boosted its position in Ocular Therapeutix by 229.0% during the 3rd quarter. New York State Common Retirement Fund now owns 31,521 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 21,940 shares during the period. Rafferty Asset Management LLC acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $37,000. Profund Advisors LLC boosted its position in Ocular Therapeutix by 94.1% during the 3rd quarter. Profund Advisors LLC now owns 20,827 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 10,099 shares during the period. Finally, Sectoral Asset Management Inc. boosted its position in Ocular Therapeutix by 20.8% during the 3rd quarter. Sectoral Asset Management Inc. now owns 969,350 shares of the biopharmaceutical company’s stock worth $3,044,000 after buying an additional 166,670 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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