Ocular Therapeutix (NASDAQ:OCUL) Receives Buy Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $16.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 206.51% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on OCUL. Bank of America began coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. Piper Sandler boosted their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Trading Down 10.9 %

Shares of NASDAQ:OCUL opened at $5.22 on Friday. The stock has a market capitalization of $775.85 million, a PE ratio of -4.18 and a beta of 1.30. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The firm has a fifty day moving average price of $8.75 and a 200 day moving average price of $5.31. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

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

Insiders Place Their Bets

In other news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the transaction, the insider now directly owns 8,591,401 shares in the company, valued at $64,607,335.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Summer Road Llc acquired 930,851 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rabia Gurses Ozden sold 7,764 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the transaction, the insider now directly owns 92,767 shares of the company’s stock, valued at approximately $459,196.65. The disclosure for this sale can be found here. Insiders sold a total of 39,366 shares of company stock valued at $194,862 in the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Summer Road LLC raised its position in shares of Ocular Therapeutix by 0.4% during the fourth quarter. Summer Road LLC now owns 6,122,089 shares of the biopharmaceutical company’s stock valued at $17,203,000 after buying an additional 27,328 shares during the last quarter. BlackRock Inc. raised its position in Ocular Therapeutix by 7.0% in the second quarter. BlackRock Inc. now owns 5,262,920 shares of the biopharmaceutical company’s stock worth $27,157,000 after purchasing an additional 344,611 shares in the last quarter. Vanguard Group Inc. raised its position in Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after purchasing an additional 1,057,123 shares in the last quarter. Franklin Resources Inc. acquired a new position in Ocular Therapeutix in the fourth quarter worth about $20,071,000. Finally, Deltec Asset Management LLC raised its position in Ocular Therapeutix by 18.5% in the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after purchasing an additional 381,810 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

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.