Guggenheim Initiates Coverage on Ocular Therapeutix, Inc. (OCUL) With A Rating Of “Buy”


Ocular Therapeutix, Inc. (NASDAQ:OCUL).

Equity analyst H.C. Wainwright added OCUL to its research portfolio with an initial rating of “Buy”.

The company is so far trading up from yesterday’s close of 5.58. Shares of the company are trading at $6.29 which is marginally higher than the 50 day moving average of $6.22 and significantly lower than the 200 day moving average of $7.81. The 50 day moving average went up $0.07 or +1.0712% whereas the 200 day average was down by -19.4256%.

Ocular Therapeutix, Inc., launched on September 12, 2006, 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 Business’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye. Its lead product candidates are DEXTENZA (dexamethasone insert), for the treatment of post-surgical ocular inflammation and pain, allergic conjunctivitis and dry eye disease, and OTX-TP, for the treatment of glaucoma and ocular hypertension, which are extended-delivery, drug-eluting inserts that are placed into the canaliculus through a natural opening called the punctum located in the inner portion of the eyelid near the nose. It also has an intravitreal hydrogel depot, which is in preclinical development for the treatment of diseases and conditions of the back of the eye, including wet age-related macular degeneration (wet AMD)..

As of the latest earnings report the EPS was $-2.15 and is projected to be $-2.29 for the current year with 29,056,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $-0.53 and the next full year EPS is projected to be $-2.13.

Short traders are more bullish on shares of the company as inferred by the downtick in short interest. The stock recorded a fall in short interest from September 15, 2017 to September 29, 2017 of -24.13%. Short interest decreased 1,415,278 over that timeframe. The days to cover decreased to 19.0 and the percentage of shorted shares was 0.15% on September 29.