Ocular Therapeutix (NASDAQ:OCUL) Coverage Initiated by Analysts at Chardan Capital

Chardan Capital assumed coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $21.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC raised their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Scotiabank decreased their target price on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Thursday, May 29th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.83.

Ocular Therapeutix Trading Down 2.1%

Shares of OCUL stock opened at $12.54 on Monday. The stock has a 50-day simple moving average of $12.09 and a 200 day simple moving average of $9.30. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $13.85. The stock has a market capitalization of $2.18 billion, a P/E ratio of -9.80 and a beta of 1.50. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the prior year, the business earned ($0.26) EPS. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. On average, sell-side analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 3,063 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the transaction, the insider owned 259,911 shares of the company’s stock, valued at $3,129,328.44. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Kaiser sold 3,011 shares of Ocular Therapeutix stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,252.44. Following the sale, the insider directly owned 204,093 shares of the company’s stock, valued at approximately $2,457,279.72. This trade represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,519 shares of company stock worth $367,865. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 893 shares during the last quarter. Trust Co. of Vermont boosted its position in Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 1,314 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 1,392 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Ocular Therapeutix by 8.1% in the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 1,472 shares during the last quarter. 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.