Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $14.00 target price on the biopharmaceutical company's stock.

OCUL has been the subject of a number of other research reports. Piper Sandler reissued an "overweight" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st. Robert W. Baird lowered their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen lowered Ocular Therapeutix from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $16.57.

Ocular Therapeutix Trading Up 12.1 %

Shares of OCUL stock traded up $1.24 on Wednesday, hitting $11.47. The company had a trading volume of 2,473,881 shares, compared to its average volume of 1,967,799. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The firm has a market cap of $1.78 billion, a P/E ratio of -8.50 and a beta of 1.29. The stock's 50-day moving average is $8.84 and its two-hundred day moving average is $7.38.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.27) EPS. On average, equities research analysts anticipate that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in Ocular Therapeutix by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company's stock worth $3,860,000 after purchasing an additional 1,168 shares in the last quarter. Amalgamated Bank raised its stake in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock worth $37,000 after purchasing an additional 1,481 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Ocular Therapeutix by 39.4% in the first quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 3,257 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Ocular Therapeutix by 36.9% during the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 4,695 shares during the last quarter. 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.