HC Wainwright reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL – Free Report) in a research report report published on Wednesday morning, MarketBeat Ratings reports. HC Wainwright currently has a $25.00 price objective on the biopharmaceutical company’s stock.
A number of other equities research analysts have also weighed in on OCUL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Chardan Capital restated a “buy” rating and set a $23.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Robert W. Baird lifted their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.
Check Out Our Latest Research Report on OCUL
Ocular Therapeutix Trading Down 1.5%
Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) EPS. Equities research analysts forecast that Ocular Therapeutix will post -1.47 earnings per share for the current year.
Insider Buying and Selling
In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the sale, the insider owned 264,378 shares of the company’s stock, valued at approximately $2,847,351.06. The trade was a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Jeffrey Heier sold 3,296 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.78, for a total transaction of $35,530.88. Following the transaction, the insider owned 318,326 shares in the company, valued at $3,431,554.28. The trade was a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 29,877 shares of company stock worth $321,827 in the last three months. Corporate insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Ocular Therapeutix in the second quarter valued at approximately $190,278,000. Avoro Capital Advisors LLC lifted its stake in Ocular Therapeutix by 5.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after acquiring an additional 527,777 shares during the period. Summer Road LLC lifted its stake in Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock valued at $100,622,000 after acquiring an additional 771,270 shares during the period. Octagon Capital Advisors LP boosted its holdings in shares of Ocular Therapeutix by 20.7% in the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock valued at $26,821,000 after acquiring an additional 543,000 shares during the last quarter. Finally, Commodore Capital LP purchased a new stake in shares of Ocular Therapeutix in the 1st quarter valued at $21,810,000. 59.21% of the stock is owned by institutional investors and hedge funds.
About Ocular Therapeutix
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 technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.
Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.
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