HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Tuesday, The Fly reports. They currently have a $12.00 price objective on the biopharmaceutical company’s stock.
“Our price target is derived from a market value of the firm at $573M, which includes a discounted cash flow-based asset value of $580M for DEXTENZA, OTX-TP and ReSure, and excludes projected debt position of $7M at the end of 2019, using a 15% discount rate and 2% terminal growth rate, and assuming 47.7M shares outstanding at the end of 2019. Probabilities of success ascribed to post-surgical ocular pain and inflammation, allergic conjunctivitis and glaucoma are 100%, 40% and 40%, respectively.”,” HC Wainwright’s analyst commented.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $6.25 price objective on the stock in a research note on Wednesday, November 14th. JMP Securities reissued a buy rating and set a $9.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, October 11th. Cantor Fitzgerald set a $22.00 price objective on shares of Ocular Therapeutix and gave the stock a buy rating in a research note on Tuesday, August 7th. Cowen reissued a buy rating and set a $13.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday. Finally, ValuEngine raised shares of Ocular Therapeutix from a sell rating to a hold rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $12.38.
NASDAQ:OCUL opened at $5.82 on Tuesday. Ocular Therapeutix has a one year low of $3.98 and a one year high of $8.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.34 and a current ratio of 4.35. The stock has a market cap of $249.45 million, a P/E ratio of -2.65 and a beta of 1.63.
Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Ocular Therapeutix had a negative return on equity of 133.73% and a negative net margin of 2,822.15%. The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.45 million. Research analysts anticipate that Ocular Therapeutix will post -1.54 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Ocular Therapeutix in the second quarter worth approximately $117,000. Trexquant Investment LP bought a new position in shares of Ocular Therapeutix in the third quarter worth approximately $139,000. Dimensional Fund Advisors LP bought a new position in shares of Ocular Therapeutix in the third quarter worth approximately $200,000. Millennium Management LLC lifted its stake in shares of Ocular Therapeutix by 91.0% in the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock worth $276,000 after buying an additional 20,192 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Ocular Therapeutix by 37.0% in the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock worth $310,000 after buying an additional 12,170 shares in the last quarter. Hedge funds and other institutional investors own 52.66% 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 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.
Further Reading: How much money do you need to begin day trading?
Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.