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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.25.

A number of brokerages recently commented on OCUL. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a report on Tuesday, March 4th. William Blair initiated coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They set an “outperform” rating for the company. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 6th.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $7.60 on Wednesday. The firm has a market cap of $1.21 billion, a PE ratio of -5.76 and a beta of 1.51. Ocular Therapeutix has a fifty-two week low of $4.79 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The business has a 50 day moving average price of $7.38 and a 200-day moving average price of $8.09.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Equities research analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Activity

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.96 per share, with a total value of $69,600.00. Following the completion of the transaction, the director now directly owns 172,704 shares of the company’s stock, valued at approximately $1,202,019.84. This represents a 6.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Deep Track Capital LP boosted its position in Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company’s stock worth $109,622,000 after purchasing an additional 114,822 shares during the last quarter. Vanguard Group Inc. boosted its position in Ocular Therapeutix by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock worth $72,453,000 after purchasing an additional 99,730 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock worth $38,116,000 after purchasing an additional 1,600,000 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Ocular Therapeutix by 43.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after purchasing an additional 895,304 shares during the last quarter. Finally, Deltec Asset Management LLC boosted its position in Ocular Therapeutix by 3.8% in the first quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company’s stock worth $19,911,000 after purchasing an additional 100,000 shares during the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.