Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $14.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 177.78% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler began coverage on Ocular Therapeutix in a research note on Friday, May 31st. They issued an “overweight” rating and a $15.00 price objective for the company. JMP Securities reduced their target price on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, TD Cowen dropped their target price on shares of Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $5.04 on Friday. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31. The business has a fifty day moving average of $5.96 and a 200 day moving average of $6.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 21.39 and a quick ratio of 21.29. The firm has a market capitalization of $780.65 million, a P/E ratio of -3.73 and a beta of 1.42.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. The business had revenue of $14.77 million for the quarter, compared to analysts’ expectations of $15.43 million. As a group, sell-side analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently bought and sold shares of the business. Trust Co. of Vermont boosted its holdings in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ocular Therapeutix by 350.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ocular Therapeutix during the 4th quarter valued at $45,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Ocular Therapeutix in the 1st quarter worth $94,000. Institutional investors own 59.21% 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-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.