Equities research analysts predict that Ocular Therapeutix, Inc. (NASDAQ:OCUL) will report $14.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Ocular Therapeutix’s earnings. The highest sales estimate is $15.30 million and the lowest is $13.47 million. Ocular Therapeutix posted sales of $7.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 92.9%. The firm is expected to announce its next earnings report on Thursday, March 10th.
On average, analysts expect that Ocular Therapeutix will report full year sales of $45.40 million for the current fiscal year, with estimates ranging from $44.68 million to $46.51 million. For the next year, analysts forecast that the business will report sales of $85.07 million, with estimates ranging from $71.89 million to $115.06 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ocular Therapeutix.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, November 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The company had revenue of $12.15 million for the quarter, compared to analyst estimates of $12.13 million. Ocular Therapeutix had a negative net margin of 229.02% and a negative return on equity of 22.95%. During the same period last year, the company posted ($0.17) earnings per share.
Several research firms have issued reports on OCUL. Raymond James lifted their price target on shares of Ocular Therapeutix from $25.00 to $29.00 and gave the stock a “strong-buy” rating in a report on Monday, October 18th. JMP Securities lifted their price objective on shares of Ocular Therapeutix from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 9th. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, December 7th. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Friday, November 12th. Finally, Piper Sandler lowered their price objective on shares of Ocular Therapeutix from $27.00 to $20.00 and set an “overweight” rating for the company in a research note on Sunday, October 24th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $22.00.
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NASDAQ OCUL opened at $6.53 on Friday. The firm’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $10.45. The company has a current ratio of 8.11, a quick ratio of 8.06 and a debt-to-equity ratio of 0.58. Ocular Therapeutix has a 12-month low of $6.02 and a 12-month high of $23.68. The firm has a market capitalization of $500.26 million, a P/E ratio of -3.38 and a beta of 1.74.
In related news, major shareholder Summer Road Llc acquired 5,300 shares of the firm’s stock in a transaction dated Wednesday, December 8th. The shares were purchased at an average cost of $6.75 per share, for a total transaction of $35,775.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 116,410 shares of company stock worth $737,718 over the last quarter. 3.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in Ocular Therapeutix by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 85,117 shares of the biopharmaceutical company’s stock worth $1,207,000 after buying an additional 1,591 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Ocular Therapeutix by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 34,660 shares of the biopharmaceutical company’s stock worth $491,000 after buying an additional 1,759 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Ocular Therapeutix in the 3rd quarter valued at approximately $212,000. Swiss National Bank increased its position in shares of Ocular Therapeutix by 1.6% in the 3rd quarter. Swiss National Bank now owns 143,300 shares of the biopharmaceutical company’s stock valued at $1,433,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Ocular Therapeutix by 6.0% in the 3rd quarter. Credit Suisse AG now owns 39,510 shares of the biopharmaceutical company’s stock valued at $396,000 after buying an additional 2,233 shares during the last quarter. Institutional investors own 62.89% of the company’s stock.
Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
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