Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Tuesday, The Fly reports. They currently have a $12.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 113.90% from the stock’s previous close.
The analysts wrote, “Our price target is derived from a market value of the firm at $573M, which includes a discounted cash flow-based asset value of $580M for DEXTENZA, OTX-TP and ReSure, and excludes projected debt position of $7M at the end of 2019, using a 15% discount rate and 2% terminal growth rate, and assuming 47.7M shares outstanding at the end of 2019. Probabilities of success ascribed to post-surgical ocular pain and inflammation, allergic conjunctivitis and glaucoma are 100%, 40% and 40%, respectively.””
Several other research analysts also recently weighed in on OCUL. Cantor Fitzgerald set a $22.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Tuesday, August 14th. JMP Securities set a $9.00 price target on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Monday, August 20th. Finally, Piper Jaffray Companies started coverage on Ocular Therapeutix in a research report on Thursday, September 6th. They set an “overweight” rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Ocular Therapeutix presently has a consensus rating of “Buy” and a consensus target price of $12.38.
Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.02). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.45 million. Ocular Therapeutix had a negative return on equity of 133.73% and a negative net margin of 2,822.15%. On average, sell-side analysts forecast that Ocular Therapeutix will post -1.54 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Ocular Therapeutix by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock worth $9,821,000 after purchasing an additional 92,335 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Ocular Therapeutix by 24.1% during the third quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock worth $462,000 after purchasing an additional 13,061 shares in the last quarter. Man Group plc purchased a new stake in shares of Ocular Therapeutix during the third quarter worth approximately $3,461,000. Dimensional Fund Advisors LP purchased a new stake in shares of Ocular Therapeutix during the third quarter worth approximately $200,000. Finally, Trexquant Investment LP purchased a new stake in shares of Ocular Therapeutix during the third quarter worth approximately $139,000. Hedge funds and other institutional investors own 52.66% 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. 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.
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