ValuEngine Upgrades Ocular Therapeutix (OCUL) to “Hold”
Ocular Therapeutix (NASDAQ:OCUL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, September 20th.
Several other analysts also recently commented on OCUL. BidaskClub downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. HC Wainwright set a $10.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research cut Ocular Therapeutix from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Cantor Fitzgerald set a $22.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a report on Tuesday, August 7th. Finally, JMP Securities set a $9.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a report on Monday, August 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $12.00.
Ocular Therapeutix stock remained flat at $$6.08 during mid-day trading on Thursday. The company had a trading volume of 303,674 shares, compared to its average volume of 410,267. The firm has a market cap of $265.51 million, a P/E ratio of -2.76 and a beta of 1.21. Ocular Therapeutix has a twelve month low of $3.30 and a twelve month high of $8.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.92 and a quick ratio of 4.91.
In related news, CEO Antony C. Mattessich acquired 20,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 57,900 shares of the company’s stock, valued at approximately $344,505. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donald Notman acquired 12,500 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $6.29 per share, with a total value of $78,625.00. Following the completion of the transaction, the chief financial officer now directly owns 17,300 shares of the company’s stock, valued at $108,817. The disclosure for this purchase can be found here. Insiders bought a total of 49,400 shares of company stock valued at $302,912 in the last 90 days. 15.90% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at approximately $102,000. MetLife Investment Advisors LLC acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $117,000. The Manufacturers Life Insurance Company raised its position in shares of Ocular Therapeutix by 328.4% in the first quarter. The Manufacturers Life Insurance Company now owns 24,123 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 18,492 shares in the last quarter. Barclays PLC raised its position in shares of Ocular Therapeutix by 587.0% in the first quarter. Barclays PLC now owns 28,262 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 24,148 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Ocular Therapeutix by 91.0% in the first quarter. Millennium Management LLC now owns 42,369 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 20,192 shares in the last quarter. Hedge funds and other institutional investors own 56.65% 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. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.
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