Ocular Therapeutix (OCUL) Price Target Cut to $8.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target decreased by stock analysts at Piper Jaffray Companies to $8.00 in a report released on Monday, The Fly reports. The brokerage currently has a “market perform” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 206.51% from the stock’s current price.

A number of other research firms also recently commented on OCUL. Zacks Investment Research downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $24.00 target price on shares of Ocular Therapeutix in a report on Thursday, March 7th. Finally, ValuEngine downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Ocular Therapeutix currently has an average rating of “Hold” and a consensus price target of $9.18.

Shares of OCUL opened at $2.61 on Monday. The company has a quick ratio of 6.11, a current ratio of 9.19 and a debt-to-equity ratio of 2.17. Ocular Therapeutix has a one year low of $2.35 and a one year high of $8.28. The stock has a market capitalization of $144.36 million, a P/E ratio of -1.66 and a beta of 1.80.

Ocular Therapeutix (NASDAQ:OCUL) last released its 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 firm had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.45 million. On average, research analysts anticipate that Ocular Therapeutix will post -1.42 EPS for the current year.

In related news, Director Jeffrey S. Heier purchased 24,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $99,600.00. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at $99,600. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard L. Md Lindstrom purchased 56,441 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $4.33 per share, for a total transaction of $244,389.53. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $433,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 90,441 shares of company stock worth $385,490. 16.10% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA acquired a new stake in shares of Ocular Therapeutix during the 1st quarter worth approximately $30,000. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Ocular Therapeutix during the 4th quarter worth approximately $50,000. JPMorgan Chase & Co. raised its position in shares of Ocular Therapeutix by 106.8% during the 1st quarter. JPMorgan Chase & Co. now owns 17,640 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 9,110 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Ocular Therapeutix by 100.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 20,000 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 10,000 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Ocular Therapeutix by 197.0% during the 4th quarter. Bank of America Corp DE now owns 26,271 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 17,425 shares during the period. Institutional investors and hedge funds own 51.20% 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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