Ocular Therapeutix (NASDAQ:OCUL) Receives “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Friday, Benzinga reports. They currently have a $15.00 target price on the biopharmaceutical company’s stock.

OCUL has been the subject of a number of other research reports. StockNews.com cut shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. HC Wainwright reaffirmed a buy rating and issued a $14.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 14th. TD Cowen upgraded Ocular Therapeutix from a hold rating to a buy rating and increased their target price for the company from $7.00 to $11.00 in a report on Thursday. Finally, JMP Securities cut their price target on Ocular Therapeutix from $24.00 to $22.00 and set a market outperform rating for the company in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $15.83.

Ocular Therapeutix Price Performance

OCUL stock opened at $6.25 on Friday. The firm has a 50 day moving average of $5.68 and a 200-day moving average of $6.25. The company has a market cap of $968.06 million, a price-to-earnings ratio of -4.63 and a beta of 1.42. The company has a current ratio of 21.39, a quick ratio of 21.29 and a debt-to-equity ratio of 0.16. Ocular Therapeutix has a 12-month low of $2.00 and a 12-month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $14.77 million for 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%. As a group, equities analysts expect that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont increased its stake in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in Ocular Therapeutix during the third quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 5,730 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Ocular Therapeutix during the 4th quarter worth $45,000. Hedge funds and other 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.