Brokerages Expect Ocular Therapeutix, Inc. (NASDAQ:OCUL) to Announce Quarterly Sales of $14.04 Million
Wall Street brokerages expect Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get a rating) will report $14.04 million in sales for the current quarter, Zacks reports. Four analysts provided earnings estimates for Ocular Therapeutix, with estimates ranging from $13.50 million to $14.93 million. Ocular Therapeutix recorded sales of $11.72 million in the same quarter last year, suggesting a positive year-over-year growth rate of 19.8%. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Ocular Therapeutix to report annual sales of $59.63 million for the current fiscal year, with estimates ranging from $57.77 million to $61.14 million. . For the next fiscal year, analysts expect the company to record sales of $88.48 million, with estimates ranging from $72.80 million to $108.01 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts who track Ocular Therapeutix.
Eye therapy (NASDAQ:OCUL – Get a rating) last released its results on Monday, February 28. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.23). Ocular Therapeutix had a negative net margin of 45.00% and a negative return on equity of 26.50%. The company posted revenue of $12.31 million in the quarter, compared to $14.18 million expected by analysts. During the same period last year, the company posted ($0.23) earnings per share.
A number of research analysts have published reports on OCUL shares. JMP Securities lowered its target price on Ocular Therapeutix shares from $30.00 to $22.00 and set a “market outperformance” rating for the company in a Tuesday, March 1 report. HC Wainwright lowered its price target on shares of Ocular Therapeutix from $14.00 to $10.00 in a Tuesday, May 10 report. Zacks Investment Research cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report released Saturday. StockNews.com began covering shares of Ocular Therapeutix in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Piper Sandler lowered her price target on Ocular Therapeutix shares from $16.00 to $10.00 in a research report on Friday. One analyst rated the stock with a sell rating, one gave the company a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Buy” and a consensus price target of $16.60.
A number of hedge funds and other institutional investors have recently changed their positions in OCUL. Ahrens Investment Partners LLC acquired a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $52,000. Provident Investment Management Inc. acquired a new stake in Ocular Therapeutix during the first quarter valued at approximately $54,000. Coastal Bridge Advisors LLC acquired a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $76,000. Hikari Power Ltd acquired a new stake in Ocular Therapeutix during the fourth quarter worth approximately $84,000. Finally, Fox Run Management LLC acquired a new stake in Ocular Therapeutix during the fourth quarter at a value of approximately $89,000. Hedge funds and other institutional investors own 53.94% of the company’s shares.
Shares of Action Ocular Therapeutix opened at $3.19 on Tuesday. Ocular Therapeutix has a 12-month minimum of $2.91 and a 12-month maximum of $15.32. The company has a current ratio of 7.29, a quick ratio of 7.23 and a debt ratio of 0.65. The stock has a market capitalization of $244.86 million, a PE ratio of -3.43 and a beta of 1.79. The company has a 50-day moving average of $4.05 and a 200-day moving average of $5.33.
About Ocular Therapeutix (Get a rating)
Ocular Therapeutix, Inc, a biopharmaceutical company, is focused on the formulation, development and commercialization of therapies for ocular diseases and conditions using its bioabsorbable hydrogel formulation technology. The company markets ReSure Sealant, an ophthalmic device to prevent wound leakage in corneal incisions after 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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