Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Lowered by Wall Street Zen

Ocular Therapeutix (NASDAQ:OCUL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. JMP Securities boosted their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 1st. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Cowen reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Thursday, October 30th. Chardan Capital reissued a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Finally, Robert W. Baird lifted their price objective on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Ocular Therapeutix Trading Up 1.2%

OCUL stock opened at $12.58 on Friday. The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $13.85. The company has a market cap of $2.68 billion, a P/E ratio of -8.74 and a beta of 0.96. The business has a fifty day moving average of $11.63 and a 200-day moving average of $11.13.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $14.54 million during the quarter, compared to analyst estimates of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. As a group, equities research analysts expect that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the transaction, the insider directly owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey S. Heier sold 10,502 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $115,942.08. Following the sale, the insider directly owned 249,409 shares in the company, valued at approximately $2,753,475.36. This represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,287 shares of company stock worth $359,784 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently modified their holdings of the business. Avoro Capital Advisors LLC raised its holdings in Ocular Therapeutix by 38.5% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after buying an additional 2,850,000 shares during the period. Vanguard Group Inc. increased its position in shares of Ocular Therapeutix by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after acquiring an additional 771,065 shares in the last quarter. TCG Crossover Management LLC increased its position in shares of Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after acquiring an additional 798,084 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Ocular Therapeutix by 44.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock worth $38,116,000 after acquiring an additional 1,600,000 shares during the period. Finally, Millennium Management LLC lifted its position in Ocular Therapeutix by 3,136.1% in the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after acquiring an additional 3,736,560 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.