Ocular Therapeutix (NASDAQ:OCUL) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.

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. “

Several other brokerages have also weighed in on OCUL. JMP Securities set a $9.00 price objective on Ocular Therapeutix and gave the company a buy rating in a report on Friday, June 21st. Piper Jaffray Companies set a $8.00 price objective on Ocular Therapeutix and gave the company a buy rating in a report on Friday, July 26th. HC Wainwright set a $9.00 price objective on Ocular Therapeutix and gave the company a buy rating in a report on Tuesday, July 2nd. Cowen lowered Ocular Therapeutix from an outperform rating to a market perform rating and reduced their price objective for the company from $13.00 to $3.00 in a report on Tuesday, May 21st. Finally, Raymond James lowered Ocular Therapeutix from a strong-buy rating to an outperform rating and reduced their price objective for the company from $11.00 to $5.00 in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $9.18.



Shares of NASDAQ OCUL opened at $4.51 on Tuesday. The firm’s fifty day moving average price is $4.73. Ocular Therapeutix has a 1-year low of $2.35 and a 1-year high of $7.31. The company has a market capitalization of $204.38 million, a price-to-earnings ratio of -2.87 and a beta of 2.25. The company has a current ratio of 6.46, a quick ratio of 6.39 and a debt-to-equity ratio of 7.06.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.15). Ocular Therapeutix had a negative net margin of 3,450.84% and a negative return on equity of 256.69%. The firm had revenue of $0.65 million for the quarter, compared to the consensus estimate of $1.00 million. On average, equities research analysts anticipate that Ocular Therapeutix will post -1.45 earnings per share for the current fiscal year.

In related news, CEO Antony C. Mattessich purchased 40,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was purchased 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 of the company’s stock, valued at $275,099. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Amarpreet Sawhney purchased 124,468 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chairman now directly owns 990,563 shares of the company’s stock, valued at $2,892,443.96. The disclosure for this purchase can be found here. Insiders bought 229,248 shares of company stock valued at $669,811 over the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Ocular Therapeutix by 21.8% in the 4th quarter. BlackRock Inc. now owns 2,792,752 shares of the biopharmaceutical company’s stock valued at $11,115,000 after purchasing an additional 500,489 shares during the period. Bank of New York Mellon Corp boosted its stake in Ocular Therapeutix by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 99,190 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 4,896 shares during the period. Northern Trust Corp boosted its stake in Ocular Therapeutix by 3.7% in the 4th quarter. Northern Trust Corp now owns 403,442 shares of the biopharmaceutical company’s stock valued at $1,606,000 after purchasing an additional 14,493 shares during the period. Geode Capital Management LLC boosted its stake in Ocular Therapeutix by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 350,673 shares of the biopharmaceutical company’s stock valued at $1,395,000 after purchasing an additional 46,281 shares during the period. Finally, Bank of America Corp DE boosted its stake in Ocular Therapeutix by 197.0% in the 4th quarter. Bank of America Corp DE now owns 26,271 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 17,425 shares during the period. 53.33% 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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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