Raymond James Downgrades Ocular Therapeutix (NASDAQ:OCUL) to Outperform

Raymond James downgraded shares of Ocular Therapeutix (NASDAQ:OCUL) from a strong-buy rating to an outperform rating in a research note published on Tuesday, May 21st, Stock Target Advisor reports. The brokerage currently has $5.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $11.00.

A number of other equities research analysts also recently issued reports on OCUL. Zacks Investment Research downgraded shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Tuesday, March 5th. Cantor Fitzgerald restated a buy rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research note on Thursday, March 7th. Finally, Piper Jaffray Companies set a $14.00 price target on shares of Ocular Therapeutix and gave the company a buy rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $9.18.

Shares of OCUL traded down $0.15 during trading hours on Tuesday, hitting $4.37. The company had a trading volume of 819,253 shares, compared to its average volume of 596,845. Ocular Therapeutix has a 12 month low of $2.35 and a 12 month high of $8.24. The firm has a market capitalization of $190.63 million, a PE ratio of -2.78 and a beta of 1.91. The company has a debt-to-equity ratio of 2.17, a current ratio of 9.19 and a quick ratio of 9.16.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Ocular Therapeutix had a negative return on equity of 165.85% and a negative net margin of 2,956.91%. The business had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.45 million. Analysts predict that Ocular Therapeutix will post -1.45 earnings per share for the current fiscal year.

In other Ocular Therapeutix news, CEO Antony C. Mattessich bought 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average cost of $2.81 per share, for a total transaction of $112,400.00. Following the transaction, the chief executive officer now directly owns 97,900 shares in the company, valued at $275,099. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael H. Goldstein bought 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $2.51 per share, for a total transaction of $30,120.00. Following the completion of the transaction, the insider now owns 25,686 shares in the company, valued at $64,471.86. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 222,248 shares of company stock worth $639,186. 16.10% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $200,000. BlackRock Inc. raised its holdings in Ocular Therapeutix by 16.6% during the 3rd quarter. BlackRock Inc. now owns 2,292,263 shares of the biopharmaceutical company’s stock worth $15,770,000 after purchasing an additional 326,381 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Ocular Therapeutix by 37.0% during the 3rd quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 12,170 shares during the last quarter. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at $50,000. Finally, Vanguard Group Inc. increased its stake in shares of Ocular Therapeutix by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock valued at $9,821,000 after acquiring an additional 92,335 shares in the last quarter. Institutional investors and hedge funds own 52.33% 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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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