ValuEngine Lowers Ocular Therapeutix, Inc. (NASDAQ:OCUL) to Sell

ValuEngine downgraded shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) from a hold rating to a sell rating in a research report sent to investors on Tuesday, July 11th.

A number of other equities analysts have also commented on OCUL. Cowen and Company reaffirmed an outperform rating and set a $60.00 price target on shares of Ocular Therapeutix in a research report on Monday, March 13th. Zacks Investment Research lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Thursday, March 16th. BTIG Research reaffirmed a buy rating and set a $13.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 21st. Cantor Fitzgerald reissued an overweight rating on shares of Ocular Therapeutix in a report on Tuesday, March 21st. Finally, Morgan Stanley downgraded shares of Ocular Therapeutix from an overweight rating to an equal weight rating and set a $16.00 price target on the stock. in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Ocular Therapeutix currently has a consensus rating of Hold and an average target price of $22.14.

Ocular Therapeutix (NASDAQ OCUL) opened at 5.95 on Tuesday. The stock’s market cap is $172.70 million. Ocular Therapeutix has a 52 week low of $4.82 and a 52 week high of $11.91. The firm’s 50 day moving average price is $7.24 and its 200-day moving average price is $8.63.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.05. Ocular Therapeutix had a negative return on equity of 101.03% and a negative net margin of 3,005.52%. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.51 million. During the same quarter in the prior year, the business posted ($0.46) EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that Ocular Therapeutix will post ($2.21) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in OCUL. State Street Corp raised its stake in Ocular Therapeutix by 21.8% in the fourth quarter. State Street Corp now owns 238,921 shares of the biopharmaceutical company’s stock valued at $2,000,000 after buying an additional 42,761 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Ocular Therapeutix during the fourth quarter valued at $1,214,000. A.R.T. Advisors LLC bought a new stake in Ocular Therapeutix during the fourth quarter valued at $446,000. Teachers Advisors LLC raised its stake in Ocular Therapeutix by 47.7% in the fourth quarter. Teachers Advisors LLC now owns 37,318 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 12,050 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC raised its stake in Ocular Therapeutix by 5.8% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 32,805 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 1,785 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.

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