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

Ocular Therapeutix (NASDAQ:OCUL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

OCUL has been the subject of a number of other research reports. Chardan Capital increased their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Robert W. Baird boosted their price target 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $9.96 on Tuesday. The business has a 50-day moving average of $9.21 and a 200-day moving average of $9.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -6.82 and a beta of 0.88. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the sale, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was 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 ninety days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC boosted its stake in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,053 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in 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 purchasing an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after purchasing an additional 1,314 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,750 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Ocular Therapeutix by 21.2% during the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 2,343 shares during the period. 59.21% of the stock is currently owned by institutional investors.

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.