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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $23.7778.

A number of research firms have weighed in on OCUL. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a report on Thursday, February 5th. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Chardan Capital restated a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 20,056 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $166,063.68. Following the completion of the sale, the insider owned 3,013,022 shares in the company, valued at approximately $24,947,822.16. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey S. Heier sold 3,057 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $25,311.96. Following the completion of the transaction, the insider owned 323,368 shares of the company’s stock, valued at approximately $2,677,487.04. The trade was a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 197,221 shares of company stock valued at $1,754,805 in the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix in the 4th quarter valued at about $31,000. Hilton Head Capital Partners LLC acquired a new position in Ocular Therapeutix in the 4th quarter valued at about $42,000. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix during the 4th quarter valued at approximately $61,000. Finally, KBC Group NV purchased a new stake in Ocular Therapeutix during the 4th quarter valued at approximately $78,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $8.10 on Wednesday. Ocular Therapeutix has a 52 week low of $5.80 and a 52 week high of $16.44. The company’s 50 day moving average is $9.44 and its two-hundred day moving average is $11.18. The company has a market cap of $1.76 billion, a PE ratio of -5.63 and a beta of 0.91. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11.

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

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.