Ocular Therapeutix (NASDAQ:OCUL) had its price target lifted by Cantor Fitzgerald from $22.00 to $24.00 in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.
Several other brokerages have also weighed in on OCUL. Zacks Investment Research raised shares of Ocular Therapeutix from a hold rating to a buy rating and set a $7.00 price objective on the stock in a research report on Tuesday, August 14th. JMP Securities reissued a buy rating and issued a $9.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, October 11th. Piper Jaffray Companies started coverage on shares of Ocular Therapeutix in a research report on Thursday, September 6th. They issued an overweight rating on the stock. BidaskClub lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Tuesday, October 9th. Finally, HC Wainwright set a $10.00 price objective on shares of Ocular Therapeutix and gave the company a buy rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Ocular Therapeutix has an average rating of Buy and an average target price of $12.38.
Shares of OCUL opened at $6.07 on Monday. The stock has a market capitalization of $230.54 million, a PE ratio of -2.75 and a beta of 1.63. Ocular Therapeutix has a fifty-two week low of $3.86 and a fifty-two week high of $8.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.34 and a current ratio of 4.35.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in shares of Ocular Therapeutix in the second quarter valued at about $117,000. Trexquant Investment LP acquired a new position in shares of Ocular Therapeutix in the third quarter valued at about $139,000. Dimensional Fund Advisors LP acquired a new position in shares of Ocular Therapeutix in the third quarter valued at about $200,000. Millennium Management LLC grew its stake in shares of Ocular Therapeutix by 91.0% in the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock valued at $276,000 after acquiring an additional 20,192 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Ocular Therapeutix by 37.0% in the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 12,170 shares in the last quarter. Institutional investors and hedge funds own 52.66% of the company’s stock.
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.
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