Weiss Ratings Reaffirms “Sell (D-)” Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright boosted their target price on shares of Ocular Therapeutix from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Robert W. Baird upped their price target on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Ocular Therapeutix Trading Up 0.4%

Shares of OCUL stock opened at $11.49 on Friday. The company’s fifty day simple moving average is $12.14 and its two-hundred day simple moving average is $10.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. Ocular Therapeutix has a 1 year low of $5.78 and a 1 year high of $13.85. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -8.98 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the previous year, the firm earned ($0.26) EPS. The company’s revenue was down 17.7% compared to the same quarter last year. As a group, analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,494 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $258,787.76. Following the transaction, the insider owned 3,227,244 shares of the company’s stock, valued at $38,856,017.76. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Anderman sold 11,132 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the transaction, the insider directly owned 87,568 shares in the company, valued at approximately $1,080,589.12. This represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,806 shares of company stock worth $727,648 in the last three months. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Ocular Therapeutix in the first quarter valued at $1,011,000. Vontobel Holding Ltd. bought a new position in Ocular Therapeutix in the first quarter valued at $79,000. Deltec Asset Management LLC increased its stake in Ocular Therapeutix by 2.9% in the second quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company’s stock valued at $25,937,000 after acquiring an additional 78,519 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 893 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Ocular Therapeutix by 100.0% during the second quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 59.21% of the company’s stock.

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.