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. “
OCUL has been the subject of several other research reports. Cowen assumed coverage on shares of Littelfuse in a research note on Tuesday, May 21st. They set an “outperform” rating and a $210.00 target price for the company. Piper Jaffray Companies set a $8.00 price target on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. HC Wainwright set a $10.00 price target on shares of Jaguar Health and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Raymond James set a C$0.50 price target on shares of Obsidian Energy and gave the stock a “market perform” rating in a research report on Tuesday, May 21st. Finally, JMP Securities set a $9.00 price objective on shares of Ocular Therapeutix and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.18.
OCUL stock traded up $0.26 during trading on Wednesday, hitting $4.63. 4,650 shares of the company’s stock traded hands, compared to its average volume of 981,632. The company has a quick ratio of 9.16, a current ratio of 9.19 and a debt-to-equity ratio of 2.17. Ocular Therapeutix has a 52 week low of $2.35 and a 52 week high of $7.31. The firm’s fifty day moving average price is $4.48. The stock has a market cap of $195.76 million, a PE ratio of -2.98 and a beta of 2.25.
Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). Ocular Therapeutix had a negative net margin of 2,956.91% and a negative return on equity of 165.85%. The business had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.45 million. As a group, equities analysts forecast that Ocular Therapeutix will post -1.45 earnings per share for the current fiscal year.
In other Ocular Therapeutix news, Chairman Amarpreet Sawhney purchased 124,468 shares of the business’s stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $2.92 per share, with a total value of $363,446.56. Following the acquisition, the chairman now owns 990,563 shares of the company’s stock, valued at $2,892,443.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony C. Mattessich purchased 40,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average cost of $2.81 per share, with a total value of $112,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 97,900 shares in the company, valued at approximately $275,099. The disclosure for this purchase can be found here. Insiders purchased 229,248 shares of company stock valued at $669,811 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of OCUL. BlackRock Inc. raised its holdings in Ocular Therapeutix by 21.8% during the 4th quarter. BlackRock Inc. now owns 2,792,752 shares of the biopharmaceutical company’s stock worth $11,115,000 after buying an additional 500,489 shares during the period. Deltec Asset Management LLC increased its holdings in shares of Ocular Therapeutix by 13.8% in the 1st quarter. Deltec Asset Management LLC now owns 824,747 shares of the biopharmaceutical company’s stock valued at $3,274,000 after purchasing an additional 100,000 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at about $362,000. Two Sigma Investments LP increased its holdings in shares of Ocular Therapeutix by 269.5% in the 4th quarter. Two Sigma Investments LP now owns 70,181 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 51,186 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Ocular Therapeutix by 31.3% in the 4th quarter. Millennium Management LLC now owns 210,273 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 50,118 shares during the period. Hedge funds and other institutional investors own 52.33% 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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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