Zacks Investment Research upgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $7.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Ocular Therapeutix, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology to address unmet or underserved needs in ophthalmology. The Company develops and markets eye care products. Ocular Therapeutix, Inc. is headquartered in Bedford, Massachusetts. “

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald set a $22.00 target price on Ocular Therapeutix and gave the stock a buy rating in a research report on Tuesday, August 7th. HC Wainwright set a $10.00 target price on Ocular Therapeutix and gave the stock a buy rating in a research report on Friday, July 20th. BidaskClub raised Ocular Therapeutix from a hold rating to a buy rating in a research report on Friday, June 15th. Finally, ValuEngine raised Ocular Therapeutix from a sell rating to a hold rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Ocular Therapeutix currently has an average rating of Hold and a consensus target price of $12.75.

NASDAQ OCUL traded down $0.17 during trading hours on Tuesday, hitting $6.00. The company’s stock had a trading volume of 10,336 shares, compared to its average volume of 406,583. Ocular Therapeutix has a 12 month low of $3.30 and a 12 month high of $8.28. The company has a market capitalization of $240.04 million, a price-to-earnings ratio of -2.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.91 and a current ratio of 4.92.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting the consensus estimate of ($0.37). The company had revenue of $0.65 million during the quarter, compared to the consensus estimate of $0.35 million. Ocular Therapeutix had a negative return on equity of 143.32% and a negative net margin of 2,814.72%. equities analysts predict that Ocular Therapeutix will post -1.55 earnings per share for the current fiscal year.

In related news, insider Antony C. Mattessich acquired 16,900 shares of the stock in a transaction dated Friday, August 10th. The shares were purchased at an average cost of $6.23 per share, with a total value of $105,287.00. Following the transaction, the insider now directly owns 37,900 shares in the company, valued at $236,117. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donald Notman acquired 12,500 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $6.29 per share, for a total transaction of $78,625.00. Following the completion of the transaction, the chief financial officer now owns 17,300 shares in the company, valued at $108,817. The disclosure for this purchase can be found here. 15.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in Ocular Therapeutix by 587.0% during the 1st quarter. Barclays PLC now owns 28,262 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 24,148 shares during the period. Deutsche Bank AG raised its stake in Ocular Therapeutix by 148.7% during the 4th quarter. Deutsche Bank AG now owns 50,065 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 29,938 shares during the period. Deltec Asset Management LLC raised its stake in Ocular Therapeutix by 173.6% during the 1st quarter. Deltec Asset Management LLC now owns 586,239 shares of the biopharmaceutical company’s stock valued at $3,816,000 after purchasing an additional 372,000 shares during the period. BlackRock Inc. raised its stake in Ocular Therapeutix by 0.8% during the 4th quarter. BlackRock Inc. now owns 1,418,577 shares of the biopharmaceutical company’s stock valued at $6,312,000 after purchasing an additional 11,293 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Ocular Therapeutix by 328.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 24,123 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 18,492 shares during the period. 56.89% of the stock is currently owned by institutional investors.

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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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