Ocular Therapeutix, Inc. (NASDAQ:OCUL) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat.com reports. They presently have a $16.00 target price on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 58.89% from the stock’s current price.
Other equities analysts have also issued reports about the company. BTIG Research restated a “buy” rating and set a $13.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 21st. Cantor Fitzgerald set a $35.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a research note on Saturday, March 11th. Zacks Investment Research upgraded Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, May 16th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Cowen and Company restated an “outperform” rating and set a $60.00 price target on shares of Ocular Therapeutix in a research note on Monday, March 13th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $24.69.
Shares of Ocular Therapeutix (NASDAQ OCUL) opened at 10.07 on Friday. The stock’s market cap is $292.31 million. Ocular Therapeutix has a 1-year low of $4.04 and a 1-year high of $11.91. The stock’s 50 day moving average price is $10.08 and its 200 day moving average price is $8.89.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Friday, May 5th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.10. Ocular Therapeutix had a negative net margin of 2,620.06% and a negative return on equity of 80.26%. The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $0.51 million. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. On average, equities research analysts anticipate that Ocular Therapeutix will post ($2.35) EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This article was originally published by sleekmoney and is the sole property of of sleekmoney. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://sleekmoney.com/ocular-therapeutix-inc-ocul-stock-rating-lowered-by-morgan-stanley/1942002.html.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in Ocular Therapeutix by 8.2% in the first quarter. American International Group Inc. now owns 11,138 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 844 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Ocular Therapeutix during the first quarter valued at $107,000. Janney Montgomery Scott LLC bought a new stake in Ocular Therapeutix during the first quarter valued at $110,000. Ellington Management Group LLC raised its stake in Ocular Therapeutix by 25.4% in the fourth quarter. Ellington Management Group LLC now owns 21,200 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 4,300 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Ocular Therapeutix during the fourth quarter valued at $181,000. Institutional investors own 65.30% of the company’s stock.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/ocular-therapeutix-inc-ocul-stock-rating-lowered-by-morgan-stanley/1942002.html
Receive News & Ratings for Ocular Therapeutix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.