Ocular Therapeutix (NASDAQ:OCUL) Given “Buy” Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report issued on Tuesday,Benzinga reports. Chardan Capital currently has a $21.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright lifted their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday. TD Cowen increased their price objective on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Finally, Cowen reiterated a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Ocular Therapeutix Price Performance

NASDAQ:OCUL opened at $15.95 on Tuesday. The company has a market cap of $3.40 billion, a P/E ratio of -11.08 and a beta of 0.96. The firm’s fifty day moving average price is $11.79 and its two-hundred day moving average price is $11.25. Ocular Therapeutix has a one year low of $5.78 and a one year high of $16.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 7.85 and a quick ratio of 7.78.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $14.54 million during the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. Equities analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total value of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares in the company, valued at approximately $2,144,673.20. This represents a 4.73% 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 Jeffrey S. Heier sold 10,502 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $115,942.08. Following the completion of the transaction, the insider owned 249,409 shares of the company’s stock, valued at approximately $2,753,475.36. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,287 shares of company stock valued at $359,784 over the last three months. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 1,392 shares during the last quarter. Brooklyn Investment Group lifted its stake in Ocular Therapeutix by 151.5% in the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 893 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Ocular Therapeutix in the 3rd quarter worth about $80,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.