Ocular Therapeutix (NASDAQ:OCUL) Given New $10.00 Price Target at Piper Sandler

Ocular Therapeutix (NASDAQ:OCULGet Rating) had its price target dropped by research analysts at Piper Sandler from $16.00 to $10.00 in a report released on Friday, The Fly reports. Piper Sandler’s target price would indicate a potential upside of 213.48% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright dropped their target price on shares of Ocular Therapeutix from $14.00 to $10.00 in a report on Tuesday, May 10th. JMP Securities decreased their price target on Ocular Therapeutix from $30.00 to $22.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 1st. StockNews.com assumed coverage on Ocular Therapeutix in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, May 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.60.

Shares of NASDAQ OCUL traded up $0.18 during trading hours on Friday, hitting $3.19. 21,692 shares of the stock were exchanged, compared to its average volume of 639,277. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.23 and a current ratio of 7.29. The company has a market cap of $244.86 million, a PE ratio of -3.43 and a beta of 1.79. The company’s fifty day simple moving average is $4.13 and its two-hundred day simple moving average is $5.42. Ocular Therapeutix has a 1-year low of $2.95 and a 1-year high of $15.32.

Ocular Therapeutix (NASDAQ:OCULGet Rating) last announced its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Ocular Therapeutix had a negative net margin of 45.00% and a negative return on equity of 26.50%. The firm had revenue of $12.31 million during the quarter, compared to analysts’ expectations of $14.18 million. During the same period in the prior year, the company posted ($0.23) EPS. As a group, sell-side analysts expect that Ocular Therapeutix will post -0.89 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY purchased a new stake in shares of Ocular Therapeutix in the 1st quarter valued at $198,000. Provident Investment Management Inc. bought a new stake in shares of Ocular Therapeutix in the 1st quarter valued at about $54,000. Endurant Capital Management LP boosted its holdings in Ocular Therapeutix by 28.8% during the 1st quarter. Endurant Capital Management LP now owns 923,963 shares of the biopharmaceutical company’s stock valued at $4,574,000 after acquiring an additional 206,820 shares during the period. Ensign Peak Advisors Inc grew its position in Ocular Therapeutix by 93.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 29,050 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 14,020 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Ocular Therapeutix by 77.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 384,390 shares of the biopharmaceutical company’s stock worth $1,903,000 after purchasing an additional 167,561 shares during the period. Institutional investors and hedge funds own 53.94% of the company’s stock.

Ocular Therapeutix Company Profile (Get Rating)

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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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