Ocular Therapeutix (NASDAQ:OCUL) Upgraded at UBS Group

UBS Group upgraded shares of Ocular Therapeutix (NASDAQ:OCUL) to a strong-buy rating in a report issued on Sunday morning,Zacks reports.

OCUL has been the topic of several other research reports. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Robert W. Baird boosted their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.86.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $7.24 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -5.10 and a beta of 1.00. The stock’s 50-day moving average is $9.66 and its 200-day moving average is $9.25. Ocular Therapeutix has a one year low of $6.23 and a one year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The business had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period last year, the company earned ($0.39) earnings per share. Ocular Therapeutix’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jeffrey S. Heier sold 10,869 shares of Ocular Therapeutix stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $7.05, for a total value of $76,626.45. Following the completion of the transaction, the insider owned 307,457 shares of the company’s stock, valued at $2,167,571.85. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Pravin Dugel sold 21,649 shares of Ocular Therapeutix stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider directly owned 2,525,429 shares of the company’s stock, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 62,720 shares of company stock valued at $556,247. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds have recently bought and sold shares of OCUL. Dimensional Fund Advisors LP acquired a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $5,491,000. Bank of America Corp DE bought a new stake in Ocular Therapeutix in the 2nd quarter valued at $5,099,000. The Manufacturers Life Insurance Company lifted its holdings in Ocular Therapeutix by 145.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company’s stock valued at $1,930,000 after purchasing an additional 135,160 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Ocular Therapeutix by 44.4% during the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock valued at $13,904,000 after purchasing an additional 435,156 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Ocular Therapeutix during the 2nd quarter valued at $5,433,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.