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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.5556.

A number of research firms recently weighed in on OCUL. Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 9th. Robert W. Baird increased their price objective on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. HC Wainwright lifted their price objective on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd.

Ocular Therapeutix Stock Down 0.7%

Shares of NASDAQ OCUL opened at $14.56 on Monday. The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.10 billion, a P/E ratio of -10.11 and a beta of 0.96. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $16.44. The business has a 50-day simple moving average of $12.01 and a two-hundred day simple moving average of $11.41.

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

Insider Buying and Selling

In related news, insider Jeffrey S. Heier sold 10,502 shares of the company’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 transaction, the insider directly owned 249,409 shares in the company, valued at approximately $2,753,475.36. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Kaiser sold 9,653 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares of the company’s stock, valued at approximately $2,144,673.20. This represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 31,287 shares of company stock worth $359,784. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. purchased a new stake in Ocular Therapeutix during the third quarter valued at about $2,360,000. CIBC Bancorp USA Inc. bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at about $175,000. Maven Securities LTD purchased a new position in shares of Ocular Therapeutix during the 3rd quarter valued at about $1,169,000. Second Line Capital LLC raised its holdings in shares of Ocular Therapeutix by 4.4% during the 3rd quarter. Second Line Capital LLC now owns 402,467 shares of the biopharmaceutical company’s stock valued at $4,705,000 after buying an additional 17,000 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Ocular Therapeutix by 17.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 31,914 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 4,729 shares during the last quarter. 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.