TD Cowen Upgrades Ocular Therapeutix (NASDAQ:OCUL) to Buy

Ocular Therapeutix (NASDAQ:OCUL) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The firm presently has a $11.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $7.00. TD Cowen’s price target would suggest a potential upside of 100.36% from the company’s previous close.

A number of other research analysts also recently weighed in on OCUL. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 14th. JMP Securities dropped their price target 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 Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.83.

Ocular Therapeutix Stock Down 0.2 %

OCUL stock opened at $5.49 on Thursday. The stock has a market capitalization of $850.35 million, a P/E ratio of -4.07 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 21.39 and a quick ratio of 21.29. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.31. The business has a fifty day moving average price of $5.76 and a 200-day moving average price of $6.23.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $14.77 million during the quarter, compared to analysts’ expectations of $15.43 million. Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. Equities analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix in the fourth quarter worth about $3,122,000. Artia Global Partners LP purchased a new position in Ocular Therapeutix during the 4th quarter valued at approximately $1,962,000. Deltec Asset Management LLC increased its stake in Ocular Therapeutix by 18.5% in the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after acquiring an additional 381,810 shares during the last quarter. Legato Capital Management LLC purchased a new stake in shares of Ocular Therapeutix during the 4th quarter worth approximately $667,000. Finally, Franklin Resources Inc. bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at approximately $20,071,000. Institutional investors own 59.21% of the company’s stock.

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.