Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of “Buy” from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.80.

A number of analysts recently commented on OCUL shares. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Bank of America initiated coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a report on Wednesday, March 13th. Finally, Piper Sandler lifted their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th.

Insider Activity

In other news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donald Notman sold 6,433 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the completion of the sale, the chief financial officer now owns 139,932 shares in the company, valued at approximately $692,663.40. The disclosure for this sale can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Ocular Therapeutix by 84.4% during the 1st quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 2,175 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 7,152 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Ocular Therapeutix by 61.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,730 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $7.80 on Tuesday. The business has a fifty day moving average of $8.63 and a 200-day moving average of $5.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The firm has a market cap of $1.16 billion, a PE ratio of -6.24 and a beta of 1.31. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). The firm had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. On average, equities research analysts predict that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

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.