Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Upgraded by UBS Group

Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a research note issued to investors on Sunday, Zacks reports.

Several other research firms have also commented on OCUL. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, September 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.86.

Read Our Latest Analysis on Ocular Therapeutix

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL opened at $7.24 on Friday. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. The company has a 50 day simple moving average of $9.66 and a 200-day simple moving average of $9.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10.

Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. The company had revenue of $13.47 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.39) earnings per share. On average, analysts anticipate that Ocular Therapeutix will post -1.47 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 10,869 shares of Ocular Therapeutix stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $76,626.45. Following the completion of the sale, the insider owned 307,457 shares of the company’s stock, valued at $2,167,571.85. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Todd Anderman sold 11,984 shares of Ocular Therapeutix stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $7.29, for a total value of $87,363.36. Following the completion of the sale, the insider owned 140,484 shares of the company’s stock, valued at $1,024,128.36. This trade represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 62,720 shares of company stock valued at $556,247. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in shares of Ocular Therapeutix during the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC lifted its position in Ocular Therapeutix by 30.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Ocular Therapeutix during the 2nd quarter valued at about $51,000. Quantinno Capital Management LP bought a new position in Ocular Therapeutix in the 1st quarter worth about $98,000. Finally, Trust Co. of Vermont bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $112,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

(Get Free Report)

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.

Further Reading

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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