Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Recommendation of “Moderate Buy” from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.71.

A number of research analysts recently weighed in on the stock. HC Wainwright raised their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Robert W. Baird decreased their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Scotiabank initiated coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price objective for the company.

Ocular Therapeutix Stock Up 7.3 %

OCUL opened at $9.75 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company’s 50-day moving average is $9.90 and its 200 day moving average is $8.17. Ocular Therapeutix has a fifty-two week low of $2.14 and a fifty-two week high of $11.77. The firm has a market capitalization of $1.53 billion, a P/E ratio of -7.39 and a beta of 1.26.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the business. Atlas Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix in the second quarter worth about $34,000. Amalgamated Bank increased its stake in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,015 shares in the last quarter. Algert Global LLC purchased a new position in shares of Ocular Therapeutix in the second quarter worth about $69,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Ocular Therapeutix in the third quarter worth about $70,000. Hedge funds and other institutional investors 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.