HC Wainwright Reaffirms “Buy” Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $14.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on OCUL. Piper Sandler restated an “overweight” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Friday, June 21st. Robert W. Baird lowered their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen downgraded Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $11.33 on Wednesday. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.58. The stock has a 50 day moving average of $9.02 and a 200 day moving average of $7.45. The firm has a market cap of $1.77 billion, a PE ratio of -8.39 and a beta of 1.29.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The firm had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.27) earnings per share. On average, research analysts expect that Ocular Therapeutix will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Avoro Capital Advisors LLC purchased a new stake in Ocular Therapeutix in the first quarter worth $65,055,000. Point72 Asset Management L.P. purchased a new position in Ocular Therapeutix in the 2nd quarter worth about $18,514,000. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares during the period. Nantahala Capital Management LLC bought a new stake in Ocular Therapeutix during the 2nd quarter valued at about $6,840,000. Finally, Rosalind Advisors Inc. purchased a new stake in Ocular Therapeutix in the 2nd quarter valued at about $5,130,000. 59.21% of the stock is owned by institutional investors.

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.