Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 22.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,639 shares of the biopharmaceutical company’s stock after buying an additional 1,015 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ocular Therapeutix were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in Ocular Therapeutix in the third quarter valued at about $24,584,000. Creative Planning purchased a new stake in Ocular Therapeutix in the third quarter valued at about $182,000. Essex Investment Management Co. LLC raised its stake in Ocular Therapeutix by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after buying an additional 1,168 shares during the last quarter. Diversified Trust Co purchased a new stake in Ocular Therapeutix in the third quarter valued at about $106,000. Finally, SG Americas Securities LLC purchased a new stake in Ocular Therapeutix in the third quarter valued at about $393,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on OCUL shares. Scotiabank assumed coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company. Robert W. Baird reduced their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Ocular Therapeutix Stock Up 2.9 %

Ocular Therapeutix stock opened at $10.57 on Wednesday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -7.83 and a beta of 1.26. Ocular Therapeutix, Inc. has a 52 week low of $2.00 and a 52 week high of $11.77. The business’s 50-day moving average price is $9.57 and its 200 day moving average price is $7.72. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned ($0.27) earnings per share. As a group, sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Ocular Therapeutix 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-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.