Cowen reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report released on Tuesday morning. Cowen currently has a $13.00 target price on the biopharmaceutical company’s stock.
Several other equities research analysts have also commented on the stock. Cantor Fitzgerald increased their price objective on shares of Ocular Therapeutix from $22.00 to $24.00 and gave the company an overweight rating in a research note on Monday, December 3rd. BidaskClub upgraded shares of Ocular Therapeutix from a sell rating to a hold rating in a research note on Sunday, December 2nd. Raymond James assumed coverage on shares of Ocular Therapeutix in a research report on Wednesday, November 14th. They set a strong-buy rating and a $10.00 target price for the company. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $6.25 target price for the company in a research report on Wednesday, November 14th. Finally, JMP Securities reissued a buy rating and set a $9.00 target price on shares of Ocular Therapeutix in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $12.38.
NASDAQ:OCUL opened at $5.82 on Tuesday. The company has a quick ratio of 4.34, a current ratio of 4.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $249.45 million, a price-to-earnings ratio of -2.65 and a beta of 1.63. Ocular Therapeutix has a 52 week low of $3.98 and a 52 week high of $8.28.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.02). The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.45 million. Ocular Therapeutix had a negative net margin of 2,822.15% and a negative return on equity of 133.73%. Equities analysts forecast that Ocular Therapeutix will post -1.54 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ocular Therapeutix by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock valued at $9,821,000 after acquiring an additional 92,335 shares during the period. Teachers Advisors LLC grew its position in shares of Ocular Therapeutix by 24.1% during the 3rd quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock valued at $462,000 after acquiring an additional 13,061 shares during the period. Man Group plc bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $3,461,000. Dimensional Fund Advisors LP bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $200,000. Finally, Trexquant Investment LP bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $139,000. 52.66% of the stock is owned by hedge funds and other institutional investors.
Ocular Therapeutix Company Profile
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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