Ocular Therapeutix (NASDAQ:OCUL) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Chardan Capital boosted their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $9.96 on Tuesday. The business has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $9.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. Ocular Therapeutix has a one year low of $6.23 and a one year high of $16.44. The company has a market cap of $2.18 billion, a PE ratio of -6.82 and a beta of 0.88.

Insider Activity

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Insiders sold a total of 28,999 shares of company stock worth $237,792 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix during the fourth quarter worth approximately $31,000. Hilton Head Capital Partners LLC acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $42,000. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $61,000. Finally, State of Wyoming purchased a new stake in Ocular Therapeutix in the 4th quarter valued at $78,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.