Ocular Therapeutix (NASDAQ:OCUL) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 brokerages have also commented on OCUL. Piper Jaffray Companies set a $8.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a report on Tuesday, July 2nd. HC Wainwright set a $10.00 price target on shares of Jaguar Health and gave the stock a buy rating in a report on Tuesday, July 2nd. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. JMP Securities set a $9.00 price target on shares of Ocular Therapeutix and gave the stock a buy rating in a report on Friday, June 21st. Finally, Cowen assumed coverage on shares of Littelfuse in a report on Tuesday, May 21st. They issued an outperform rating and a $210.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Ocular Therapeutix currently has a consensus rating of Hold and a consensus price target of $9.18.

OCUL stock traded down $0.18 during trading on Tuesday, reaching $4.68. The company had a trading volume of 5,150 shares, compared to its average volume of 1,213,501. The business has a 50-day simple moving average of $4.23. The firm has a market cap of $201.91 million, a P/E ratio of -3.00 and a beta of 2.25. The company has a debt-to-equity ratio of 2.17, a quick ratio of 9.16 and a current ratio of 9.19. Ocular Therapeutix has a twelve month low of $2.35 and a twelve month high of $7.31.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Ocular Therapeutix had a negative return on equity of 165.85% and a negative net margin of 2,956.91%. The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.45 million. As a group, analysts expect that Ocular Therapeutix will post -1.45 earnings per share for the current year.

In other Ocular Therapeutix news, Chairman Amarpreet Sawhney bought 45,780 shares of the stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $2.91 per share, with a total value of $133,219.80. Following the purchase, the chairman now directly owns 898,711 shares in the company, valued at approximately $2,615,249.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael H. Goldstein bought 12,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $2.51 per share, for a total transaction of $30,120.00. Following the purchase, the insider now owns 25,686 shares in the company, valued at $64,471.86. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 229,248 shares of company stock worth $669,811. 16.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA acquired a new stake in Ocular Therapeutix during the 1st quarter worth $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Ocular Therapeutix by 100.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 20,000 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 10,000 shares during the last quarter. Bank of America Corp DE boosted its stake in Ocular Therapeutix by 197.0% during the 4th quarter. Bank of America Corp DE now owns 26,271 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 17,425 shares during the last quarter. Rhumbline Advisers boosted its stake in Ocular Therapeutix by 50.3% during the 4th quarter. Rhumbline Advisers now owns 43,465 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 14,551 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Ocular Therapeutix by 269.5% during the 4th quarter. Two Sigma Investments LP now owns 70,181 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 51,186 shares during the last quarter. 52.33% of the stock is currently owned by 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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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