Ocular Therapeutix Inc. (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research report issued to clients and investors on Saturday. They currently have a $18.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price points to a potential upside of 165.10% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Friday, August 12th. JMP Securities began coverage on shares of Ocular Therapeutix in a research note on Thursday, August 11th. They set an “outperform” rating and a $5.84 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ocular Therapeutix has an average rating of “Buy” and an average target price of $19.07.
Shares of Ocular Therapeutix (NASDAQ:OCUL) traded down 4.27% during midday trading on Friday, hitting $6.50. 494,347 shares of the stock traded hands. The firm’s 50-day moving average is $6.78 and its 200 day moving average is $7.94. Ocular Therapeutix has a 52 week low of $4.04 and a 52 week high of $17.34. The company’s market capitalization is $161.34 million.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. Ocular Therapeutix had a negative net margin of 2,519.61% and a negative return on equity of 52.44%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $0.55 million. During the same period in the prior year, the company posted ($0.45) earnings per share. Ocular Therapeutix’s revenue was down 3.9% compared to the same quarter last year. Equities analysts forecast that Ocular Therapeutix will post ($1.87) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. Geode Capital Management LLC boosted its position in Ocular Therapeutix by 1.5% in the first quarter. Geode Capital Management LLC now owns 70,396 shares of the biopharmaceutical company’s stock worth $680,000 after buying an additional 1,042 shares during the period. State Street Corp boosted its position in Ocular Therapeutix by 13.8% in the first quarter. State Street Corp now owns 205,586 shares of the biopharmaceutical company’s stock worth $1,989,000 after buying an additional 24,939 shares during the period. Columbus Circle Investors boosted its position in Ocular Therapeutix by 47.9% in the second quarter. Columbus Circle Investors now owns 278,785 shares of the biopharmaceutical company’s stock worth $1,380,000 after buying an additional 90,283 shares during the period. Alps Advisors Inc. boosted its position in Ocular Therapeutix by 25.1% in the second quarter. Alps Advisors Inc. now owns 34,792 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 6,976 shares during the period. Finally, Jennison Associates LLC boosted its position in Ocular Therapeutix by 123.6% in the second quarter. Jennison Associates LLC now owns 2,972,606 shares of the biopharmaceutical company’s stock worth $14,714,000 after buying an additional 1,643,261 shares during the period. 78.50% of the stock is owned by hedge funds and other institutional investors.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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