HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL – Get Rating) in a report published on Tuesday morning, Benzinga reports. They currently have a $11.00 price target on the biopharmaceutical company’s stock.

OCUL has been the topic of several other research reports. StockNews.com lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, November 11th. Raymond James lowered their price target on shares of Ocular Therapeutix from $29.00 to $14.00 and set a strong-buy rating on the stock in a research report on Tuesday, November 8th. Finally, JMP Securities reaffirmed a market outperform rating and set a $12.00 target price on shares of Ocular Therapeutix in a report on Monday, February 13th.

Ocular Therapeutix Trading Down 6.2 %

NASDAQ OCUL opened at $5.28 on Tuesday. The company’s 50 day moving average is $4.59 and its 200-day moving average is $4.20. Ocular Therapeutix has a 12-month low of $2.57 and a 12-month high of $6.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 4.13 and a quick ratio of 4.92.

Insider Buying and Selling

In related news, CEO Antony C. Mattessich sold 19,669 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $4.24, for a total transaction of $83,396.56. Following the sale, the chief executive officer now owns 446,281 shares of the company’s stock, valued at approximately $1,892,231.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Antony C. Mattessich sold 19,669 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $4.24, for a total transaction of $83,396.56. Following the sale, the chief executive officer now owns 446,281 shares in the company, valued at approximately $1,892,231.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Philip C. Strassburger sold 6,181 shares of Ocular Therapeutix stock in a transaction on Monday, February 6th. The stock was sold at an average price of $4.24, for a total transaction of $26,207.44. Following the sale, the general counsel now directly owns 109,071 shares of the company’s stock, valued at $462,461.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,155 shares of company stock valued at $161,777. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently modified their holdings of the company. Summer Road LLC boosted its stake in Ocular Therapeutix by 0.4% in the fourth quarter. Summer Road LLC now owns 6,122,089 shares of the biopharmaceutical company’s stock worth $17,203,000 after buying an additional 27,328 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ocular Therapeutix by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 4,195,406 shares of the biopharmaceutical company’s stock valued at $20,768,000 after purchasing an additional 116,383 shares in the last quarter. Deltec Asset Management LLC grew its holdings in shares of Ocular Therapeutix by 12.3% during the 3rd quarter. Deltec Asset Management LLC now owns 2,323,673 shares of the biopharmaceutical company’s stock valued at $9,643,000 after purchasing an additional 254,360 shares during the last quarter. Emerald Advisers LLC raised its position in Ocular Therapeutix by 2.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,506,456 shares of the biopharmaceutical company’s stock worth $6,252,000 after purchasing an additional 40,754 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Ocular Therapeutix by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,410,653 shares of the biopharmaceutical company’s stock worth $3,963,000 after purchasing an additional 39,900 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

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Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.