Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.80 Average PT from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.80.

OCUL has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. Piper Sandler lifted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Finally, Bank of America initiated coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, CFO Donald Notman sold 6,433 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the transaction, the chief financial officer now owns 139,932 shares in the company, valued at approximately $692,663.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ocular Therapeutix news, General Counsel Philip C. Strassburger sold 6,831 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $33,813.45. Following the completion of the transaction, the general counsel now owns 109,218 shares in the company, valued at approximately $540,629.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donald Notman sold 6,433 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the transaction, the chief financial officer now owns 139,932 shares of the company’s stock, valued at approximately $692,663.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Ocular Therapeutix by 84.4% in the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Ocular Therapeutix by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,500 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Ocular Therapeutix during the 3rd quarter worth about $37,000. Finally, SG Americas Securities LLC bought a new position in Ocular Therapeutix during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Down 22.7 %

NASDAQ OCUL opened at $5.86 on Tuesday. The stock’s 50-day moving average price is $8.74 and its 200-day moving average price is $5.29. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a 52 week low of $2.00 and a 52 week high of $11.31. The company has a market capitalization of $870.97 million, a P/E ratio of -4.69 and a beta of 1.30.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The firm had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. On average, equities research analysts predict that Ocular Therapeutix will post -0.68 earnings per share for the current year.

Ocular Therapeutix Company 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.