Ocular Therapeutix (NASDAQ:OCUL) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report published on Monday,Benzinga reports. The brokerage currently has a $21.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts also recently weighed in on OCUL. William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Stock Performance

OCUL stock opened at $8.86 on Monday. The business’s fifty day moving average is $8.79 and its 200-day moving average is $10.77. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.93 billion, a P/E ratio of -6.15 and a beta of 0.95. Ocular Therapeutix has a twelve month low of $6.23 and a twelve month high of $16.44.

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

Insider Buying and Selling at Ocular Therapeutix

In other news, Director Richard L. Md Lindstrom bought 60,229 shares of the stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $7.66 per share, for a total transaction of $461,354.14. Following the acquisition, the director owned 246,933 shares in the company, valued at approximately $1,891,506.78. This trade represents a 32.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey S. Heier sold 3,057 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $8.28, for a total value of $25,311.96. Following the transaction, the insider owned 323,368 shares of the company’s stock, valued at approximately $2,677,487.04. This trade represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 197,221 shares of company stock worth $1,754,805 in the last three months. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares in the last quarter. Trust Co. of Vermont increased its holdings in Ocular Therapeutix by 24.3% during the 4th quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 1,750 shares in the last quarter. Profund Advisors LLC increased its holdings in Ocular Therapeutix by 9.9% during the 3rd quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.