Zacks: Brokers Expect Ocular Therapeutix, Inc. (NASDAQ: OCUL) to Report Earnings of -$0.23 Per Share
Stock analysts expect Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get a rating) to display ($0.23) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made earnings estimates for Ocular Therapeutix, with the lowest EPS estimate being $0.28 and the highest estimate $0.16. Ocular Therapeutix posted earnings of ($0.24) per share in the same quarter last year, suggesting a positive year-over-year growth rate of 4.2%. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Ocular Therapeutix to report annual earnings of ($0.78) per share for the current fiscal year, with EPS estimates ranging from ($1.05) to ($0.00). $.45). For the next fiscal year, analysts expect the company to post earnings of ($0.19) per share, with EPS estimates ranging from ($0.61) to $0.41. Zacks earnings per share calculations are an average average based on a survey of research analysts who follow Ocular Therapeutix.
Eye therapy (NASDAQ:OCUL – Get a rating) last released its results on Monday, February 28. The biopharmaceutical company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). Ocular Therapeutix had a negative net margin of 15.06% and a negative return on equity of 7.73%. The company posted revenue of $12.31 million for the quarter, versus a consensus estimate of $14.18 million. In the same quarter of the previous year, the company made ($0.23) earnings per share.
Several equity research analysts have recently weighed in on OCUL shares. Zacks Investment Research downgraded shares of Ocular Therapeutix from a “hold” to a “sell” rating in a Tuesday, Jan. 11 research note. StockNews.com launched a hedge on the shares of Ocular Therapeutix in a report on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, JMP Securities lowered its price target on Ocular Therapeutix shares from $30.00 to $22.00 and set a “market outperformance” rating on the stock in a Tuesday, March 1 report. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $19.40.
Action Ocular Therapeutix traded at $0.04 during midday trading on Friday, reaching $4.38. 612,577 shares of the company were traded, compared to its average volume of 551,473. The company has a market capitalization of $336.17 million, a price-earnings ratio of -4.61 and a beta of 1, 70. The stock has a 50-day moving average of $5.13 and a two-hundred-day moving average of $6.50. The company has a quick ratio of 7.22, a current ratio of 7.26 and a leverage ratio of 0.58. Ocular Therapeutix has a 12-month minimum of $4.06 and a 12-month maximum of $19.84.
In other news from Ocular Therapeutix, major shareholder Summer Road Llc purchased 10,000 shares of the company in a transaction on Wednesday, February 23. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $48,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. During the last quarter, insiders purchased 120,632 shares of the company worth $634,590. Insiders hold 3.60% of the shares of the company.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Dark Forest Capital Management LP acquired a new stake in Ocular Therapeutix in the third quarter worth approximately $212,000. Ahrens Investment Partners LLC acquired a new position in Ocular Therapeutix in the fourth quarter worth $52,000. Versor Investments LP acquired a new stake in Ocular Therapeutix in the third quarter valued at $103,000. Teacher Retirement System of Texas acquired a new stake in Ocular Therapeutix in the third quarter valued at $103,000. Finally, Coastal Bridge Advisors LLC acquired a new stake in Ocular Therapeutix in the fourth quarter at a value of $76,000. 57.44% of the shares are held by hedge funds and other institutional investors.
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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