Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of “Buy” from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.8333.

Several analysts have issued reports on the company. Scotiabank cut their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC increased their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Chardan Capital initiated coverage on Ocular Therapeutix in a research report on Monday, September 15th. They set a “buy” rating and a $21.00 price target on the stock.

Insider Transactions at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 3,063 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 259,911 shares in the company, valued at approximately $3,129,328.44. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Kaiser sold 3,011 shares of the stock in a transaction that occurred 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 owned 204,093 shares in the company, valued at $2,457,279.72. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,519 shares of company stock worth $367,865. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in Ocular Therapeutix by 19,194.3% in the 2nd quarter. Osaic Holdings Inc. now owns 67,530 shares of the biopharmaceutical company’s stock worth $627,000 after buying an additional 67,180 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ocular Therapeutix by 96.6% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 61,995 shares of the biopharmaceutical company’s stock worth $575,000 after buying an additional 30,460 shares in the last quarter. Marex Group plc bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $115,000. Hudson Bay Capital Management LP bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $502,000. Finally, Second Line Capital LLC grew its holdings in Ocular Therapeutix by 11.4% in the 2nd quarter. Second Line Capital LLC now owns 385,467 shares of the biopharmaceutical company’s stock worth $3,577,000 after buying an additional 39,369 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Trading Down 6.7%

Shares of NASDAQ OCUL opened at $11.69 on Wednesday. The stock’s 50 day moving average price is $12.35 and its two-hundred day moving average price is $9.66. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The stock has a market capitalization of $2.03 billion, a P/E ratio of -9.13 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 quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) 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 analyst estimates of $13.12 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. On average, analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

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.