Chardan Capital Reaffirms “Buy” Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $21.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price objective would suggest a potential upside of 36.28% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright increased their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ocular Therapeutix in a research note on Monday. Piper Sandler lifted their price objective on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird upped their target price on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $15.41 on Tuesday. The company has a current ratio of 7.85, a quick ratio of 7.78 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $3.28 billion, a P/E ratio of -10.70 and a beta of 0.96. The firm has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $11.28. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $16.44.

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

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the sale, the insider owned 87,568 shares in the company, valued at $1,080,589.12. The trade was a 11.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Kaiser sold 9,653 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following 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 ninety days, insiders sold 31,287 shares of company stock worth $359,784. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Brooklyn Investment Group raised its stake in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares during the last quarter. Quarry LP purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at $80,000. Finally, Trust Co. of Vermont grew its stake in shares of Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 1,000 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

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.