Ocular Therapeutix (NASDAQ:OCUL) Trading Up 8.3%

Ocular Therapeutix Inc (NASDAQ:OCUL) shares were up 8.3% during trading on Thursday . The stock traded as high as $3.60 and last traded at $3.54, approximately 192,804 shares changed hands during trading. A decline of 70% from the average daily volume of 644,618 shares. The stock had previously closed at $3.27.

Several research analysts have recently commented on OCUL shares. Piper Jaffray Companies set a $8.00 price target on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Ocular Therapeutix in a report on Wednesday, September 25th. Zacks Investment Research lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, JMP Securities set a $9.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $9.18.

The stock has a market capitalization of $154.34 million, a PE ratio of -2.25 and a beta of 2.12. The stock has a fifty day moving average of $3.76 and a 200-day moving average of $4.00. The company has a quick ratio of 6.39, a current ratio of 6.46 and a debt-to-equity ratio of 7.06.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.15). The company had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $1.00 million. Ocular Therapeutix had a negative net margin of 3,450.84% and a negative return on equity of 256.69%. Equities research analysts expect that Ocular Therapeutix Inc will post -1.63 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Ocular Therapeutix by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 105,467 shares of the biopharmaceutical company’s stock worth $464,000 after buying an additional 2,990 shares during the last quarter. Creative Planning purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $52,000. Northern Trust Corp lifted its holdings in Ocular Therapeutix by 3.3% during the 2nd quarter. Northern Trust Corp now owns 419,982 shares of the biopharmaceutical company’s stock worth $1,848,000 after buying an additional 13,249 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $62,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ocular Therapeutix by 37.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 100,658 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 27,585 shares during the last quarter. 48.11% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile (NASDAQ:OCUL)

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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