Ocular Therapeutix (OCUL) Receives “Buy” Rating from Cowen

Cowen reissued their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report published on Tuesday morning. Cowen currently has a $13.00 target price on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on OCUL. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $7.00 price target for the company in a report on Tuesday, August 14th. Cantor Fitzgerald raised their price target on shares of Ocular Therapeutix from $22.00 to $24.00 and gave the company an overweight rating in a report on Monday, December 3rd. JMP Securities reissued a buy rating and issued a $9.00 price target on shares of Ocular Therapeutix in a report on Thursday, October 11th. Piper Jaffray Companies started coverage on shares of Ocular Therapeutix in a report on Thursday, September 6th. They issued an overweight rating for the company. Finally, BidaskClub downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Ocular Therapeutix presently has an average rating of Buy and an average price target of $12.38.

Shares of NASDAQ:OCUL opened at $5.82 on Tuesday. The company has a quick ratio of 4.34, a current ratio of 4.35 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a one year low of $3.98 and a one year high of $8.28. The firm has a market capitalization of $249.45 million, a price-to-earnings ratio of -2.65 and a beta of 1.63.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.02). Ocular Therapeutix had a negative net margin of 2,822.15% and a negative return on equity of 133.73%. The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.45 million. On average, equities analysts expect that Ocular Therapeutix will post -1.54 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new stake in shares of Ocular Therapeutix during the 2nd quarter valued at $117,000. Trexquant Investment LP purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $139,000. Dimensional Fund Advisors LP purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $200,000. Millennium Management LLC raised its position in shares of Ocular Therapeutix by 91.0% during the 1st quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 20,192 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Ocular Therapeutix by 37.0% during the 3rd quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after buying an additional 12,170 shares in the last quarter. Hedge funds and other institutional investors own 52.66% of the company’s stock.

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. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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