Todays Report: The Ocular Therapeutix Inc. (OCUL) Rating Lowered to Hold at Zacks Investment Research

The Ocular Therapeutix Inc. (OCUL) Rating Lowered to Hold at Zacks Investment Research

Ocular Therapeutix Inc. (NASDAQ:OCUL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Other equities analysts have also recently issued research reports about the company. JMP Securities began coverage on Ocular Therapeutix in a report on Thursday, August 11th. They issued an “outperform” rating and a $5.84 target price for the company. BTIG Research reiterated a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, July 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ocular Therapeutix has an average rating of “Buy” and a consensus price target of $19.07.

Ocular Therapeutix (NASDAQ:OCUL) opened at 7.22 on Wednesday. The company’s market capitalization is $179.21 million. The stock’s 50 day moving average price is $6.77 and its 200 day moving average price is $7.96. Ocular Therapeutix has a one year low of $4.04 and a one year high of $17.34.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.03. The firm earned $0.44 million during the quarter, compared to analysts’ expectations of $0.55 million. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.45) EPS. Equities analysts anticipate that Ocular Therapeutix will post ($1.87) EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Ocular Therapeutix by 1.5% in the first quarter. Geode Capital Management LLC now owns 70,396 shares of the biopharmaceutical company’s stock valued at $680,000 after buying an additional 1,042 shares in the last quarter. State Street Corp boosted its stake in shares of Ocular Therapeutix by 13.8% in the first quarter. State Street Corp now owns 205,586 shares of the biopharmaceutical company’s stock valued at $1,989,000 after buying an additional 24,939 shares in the last quarter. Columbus Circle Investors boosted its stake in shares of Ocular Therapeutix by 47.9% in the second quarter. Columbus Circle Investors now owns 278,785 shares of the biopharmaceutical company’s stock valued at $1,380,000 after buying an additional 90,283 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Ocular Therapeutix by 123.6% in the second quarter. Jennison Associates LLC now owns 2,972,606 shares of the biopharmaceutical company’s stock valued at $14,714,000 after buying an additional 1,643,261 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Ocular Therapeutix by 10.2% in the second quarter. BlackRock Fund Advisors now owns 775,611 shares of the biopharmaceutical company’s stock valued at $3,839,000 after buying an additional 71,882 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.

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