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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $23.7778.

Several brokerages have issued reports on OCUL. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a report on Thursday, February 5th. Finally, HC Wainwright lifted their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th.

Ocular Therapeutix Trading Down 6.8%

NASDAQ:OCUL opened at $8.94 on Friday. The company has a market cap of $1.95 billion, a PE ratio of -6.21 and a beta of 0.90. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $11.57. Ocular Therapeutix has a 12 month low of $5.78 and a 12 month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The firm had revenue of $13.25 million for the quarter, compared to analysts’ expectations of $16.13 million. During the same period in the prior year, the firm earned ($0.29) EPS. The company’s revenue was down 22.4% compared to the same quarter last year. Research analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

In related news, Director Richard L. Md Lindstrom purchased 60,229 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $7.66 per share, with a total value of $461,354.14. Following the completion of the acquisition, the director owned 246,933 shares of the company’s stock, valued at approximately $1,891,506.78. This trade represents a 32.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nadia Waheed sold 7,863 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $71,081.52. Following the completion of the transaction, the insider directly owned 318,417 shares in the company, valued at $2,878,489.68. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 197,221 shares of company stock valued at $1,754,805 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. Millennium Management LLC boosted its position in shares of Ocular Therapeutix by 3,136.1% in the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after purchasing an additional 3,736,560 shares during the period. Alliancebernstein L.P. raised its position in shares of Ocular Therapeutix by 2,003.2% during the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after purchasing an additional 3,261,619 shares during the period. Avoro Capital Advisors LLC lifted its stake in shares of Ocular Therapeutix by 38.5% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after buying an additional 2,850,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ocular Therapeutix by 26.3% during the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after buying an additional 2,411,953 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Ocular Therapeutix by 106.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock worth $51,321,000 after buying an additional 2,180,702 shares during the period. Institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.