According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “
Several other research firms have also weighed in on OCUL. ValuEngine lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reiterated a buy rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, March 7th. Finally, Piper Jaffray Companies set a $14.00 price objective on shares of Ocular Therapeutix and gave the company a buy rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ocular Therapeutix currently has a consensus rating of Buy and an average target price of $12.61.
Shares of OCUL stock traded down $0.06 during trading hours on Thursday, reaching $3.47. 10,729 shares of the stock traded hands, compared to its average volume of 433,755. Ocular Therapeutix has a 1-year low of $3.35 and a 1-year high of $8.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 9.19 and a quick ratio of 6.11. The firm has a market capitalization of $154.21 million, a P/E ratio of -2.20 and a beta of 1.80.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.03). The company had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.45 million. Ocular Therapeutix had a negative net margin of 2,956.91% and a negative return on equity of 165.85%. Sell-side analysts predict that Ocular Therapeutix will post -1.43 EPS for the current fiscal year.
In other Ocular Therapeutix news, Director Jeffrey S. Heier bought 24,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $4.15 per share, with a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $99,600. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael H. Goldstein bought 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $4.15 per share, with a total value of $41,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 90,441 shares of company stock worth $385,490. Company insiders own 16.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in Ocular Therapeutix by 37.0% in the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 12,170 shares during the last quarter. BlackRock Inc. raised its position in Ocular Therapeutix by 16.6% in the third quarter. BlackRock Inc. now owns 2,292,263 shares of the biopharmaceutical company’s stock valued at $15,770,000 after purchasing an additional 326,381 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Ocular Therapeutix in the third quarter valued at approximately $200,000. Teachers Advisors LLC raised its position in Ocular Therapeutix by 24.1% in the third quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 13,061 shares during the period. Finally, Vanguard Group Inc. raised its position in Ocular Therapeutix by 6.9% in the third quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock valued at $9,821,000 after purchasing an additional 92,335 shares during the period. 51.20% 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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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