Ocular Therapeutix (NASDAQ:OCUL) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ocular Therapeutix (NASDAQ:OCULGet Rating) from a hold rating to a sell rating in a report issued on Saturday morning, Zacks.com reports.

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. “

Several other brokerages have also issued reports on OCUL. Piper Sandler dropped their target price on shares of Ocular Therapeutix from $16.00 to $10.00 in a research report on Friday. StockNews.com started coverage on shares of Ocular Therapeutix in a report on Thursday, March 31st. They issued a hold rating for the company. JMP Securities dropped their price target on shares of Ocular Therapeutix from $30.00 to $22.00 and set a market outperform rating for the company in a research report on Tuesday, March 1st. Finally, HC Wainwright decreased their price objective on shares of Ocular Therapeutix from $14.00 to $10.00 in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $16.60.

OCUL opened at $3.19 on Friday. Ocular Therapeutix has a twelve month low of $2.91 and a twelve month high of $15.32. The company has a current ratio of 7.29, a quick ratio of 7.23 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $4.08 and a 200-day moving average of $5.37.

Ocular Therapeutix (NASDAQ:OCULGet Rating) last released its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.23). Ocular Therapeutix had a negative net margin of 45.00% and a negative return on equity of 26.50%. The firm had revenue of $12.31 million for the quarter, compared to analyst estimates of $14.18 million. During the same period last year, the firm earned ($0.23) earnings per share. As a group, analysts forecast that Ocular Therapeutix will post -0.89 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altium Capital Management LP raised its position in shares of Ocular Therapeutix by 117.1% during the third quarter. Altium Capital Management LP now owns 556,000 shares of the biopharmaceutical company’s stock valued at $5,560,000 after buying an additional 299,848 shares during the last quarter. HighVista Strategies LLC raised its position in shares of Ocular Therapeutix by 12.0% during the third quarter. HighVista Strategies LLC now owns 69,062 shares of the biopharmaceutical company’s stock valued at $691,000 after buying an additional 7,423 shares during the last quarter. Golden State Equity Partners raised its position in shares of Ocular Therapeutix by 140.7% during the third quarter. Golden State Equity Partners now owns 32,260 shares of the biopharmaceutical company’s stock valued at $323,000 after buying an additional 18,860 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Ocular Therapeutix by 276.8% during the third quarter. Cubist Systematic Strategies LLC now owns 91,369 shares of the biopharmaceutical company’s stock valued at $914,000 after buying an additional 67,123 shares during the last quarter. Finally, Hikari Power Ltd bought a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $84,000. Institutional investors own 53.94% of the company’s stock.

Ocular Therapeutix Company Profile (Get Rating)

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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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