Ocular Therapeutix (OCUL) Now Covered by Analysts at Piper Jaffray Companies

Share on StockTwits

Piper Jaffray Companies initiated coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on OCUL. BidaskClub raised shares of Ocular Therapeutix from a hold rating to a buy rating in a report on Friday, June 15th. ValuEngine raised shares of Ocular Therapeutix from a strong sell rating to a sell rating in a report on Wednesday, June 13th. HC Wainwright reaffirmed a buy rating and issued a $10.00 price target on shares of Ocular Therapeutix in a report on Thursday, June 21st. Finally, Zacks Investment Research cut shares of Ocular Therapeutix from a buy rating to a sell rating in a report on Saturday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Ocular Therapeutix has a consensus rating of Buy and a consensus target price of $12.00.

NASDAQ:OCUL traded up $0.31 during midday trading on Thursday, reaching $7.00. 8,490 shares of the stock traded hands, compared to its average volume of 379,109. Ocular Therapeutix has a 12-month low of $3.30 and a 12-month high of $8.28. The company has a quick ratio of 4.91, a current ratio of 4.92 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $263.20 million, a price-to-earnings ratio of -3.15 and a beta of 1.21.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.37). The business had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $0.35 million. Ocular Therapeutix had a negative net margin of 2,814.72% and a negative return on equity of 143.32%. analysts expect that Ocular Therapeutix will post -1.55 EPS for the current year.

In related news, CFO Donald Notman purchased 12,500 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $6.29 per share, with a total value of $78,625.00. Following the completion of the acquisition, the chief financial officer now owns 17,300 shares in the company, valued at approximately $108,817. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Antony C. Mattessich purchased 20,000 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was bought at an average cost of $5.95 per share, with a total value of $119,000.00. Following the acquisition, the chief executive officer now owns 57,900 shares of the company’s stock, valued at approximately $344,505. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 49,400 shares of company stock valued at $302,912. Corporate insiders own 15.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Ocular Therapeutix by 587.0% during the first quarter. Barclays PLC now owns 28,262 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 24,148 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Ocular Therapeutix by 148.7% during the fourth quarter. Deutsche Bank AG now owns 50,065 shares of the biopharmaceutical company’s stock worth $221,000 after purchasing an additional 29,938 shares during the last quarter. Deltec Asset Management LLC raised its holdings in shares of Ocular Therapeutix by 173.6% during the first quarter. Deltec Asset Management LLC now owns 586,239 shares of the biopharmaceutical company’s stock worth $3,816,000 after purchasing an additional 372,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ocular Therapeutix by 328.4% during the first quarter. The Manufacturers Life Insurance Company now owns 24,123 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 18,492 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Ocular Therapeutix by 91.0% during the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock worth $276,000 after purchasing an additional 20,192 shares during the last quarter. 56.65% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

Further Reading: Calculate Your Return on Investment (ROI)

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply