Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Recommendation of “Buy” by Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Rating) has received a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.25.

A number of research analysts recently issued reports on OCUL shares. JMP Securities dropped their price target on Ocular Therapeutix from $30.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 1st. StockNews.com started coverage on Ocular Therapeutix in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Tuesday, January 11th.

OCUL opened at $3.66 on Monday. Ocular Therapeutix has a one year low of $3.58 and a one year high of $19.84. The company has a current ratio of 7.26, a quick ratio of 7.22 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $4.96 and its 200-day simple moving average is $6.28.

Ocular Therapeutix (NASDAQ:OCUL – Get Rating) last released its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.23) EPS for the quarter, meeting analysts’ consensus estimates of ($0.23). Ocular Therapeutix had a negative return on equity of 7.73% and a negative net margin of 15.06%. The business had revenue of $12.31 million for the quarter, compared to the consensus estimate of $14.18 million. During the same quarter in the prior year, the business posted ($0.23) EPS. On average, analysts expect that Ocular Therapeutix will post -0.81 earnings per share for the current year.

In related news, major shareholder Summer Road Llc bought 10,000 shares of the stock in a transaction on Wednesday, February 23rd. The shares were bought at an average cost of $4.80 per share, for a total transaction of $48,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 51,477 shares of company stock worth $255,680 over the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Ahrens Investment Partners LLC acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $52,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $76,000. Hikari Power Ltd acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $84,000. Fox Run Management L.L.C. acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $89,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Ocular Therapeutix by 38.7% in the 4th quarter. Teacher Retirement System of Texas now owns 14,303 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 3,989 shares during the period. Institutional investors own 57.44% of the company’s stock.

Ocular Therapeutix Company Profile (Get Rating)

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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following 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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