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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.5556.

Several research firms recently issued reports on OCUL. Chardan Capital restated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 9th. Robert W. Baird raised their target price on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Thursday, October 30th.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the transaction, the insider owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey S. Heier sold 10,502 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the sale, the insider directly owned 249,409 shares in the company, valued at $2,753,475.36. This represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,287 shares of company stock worth $359,784 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OCUL. Avoro Capital Advisors LLC grew its holdings in Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after purchasing an additional 2,850,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after buying an additional 771,065 shares during the last quarter. TCG Crossover Management LLC grew its stake in shares of Ocular Therapeutix by 15.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after buying an additional 798,084 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Ocular Therapeutix by 44.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after buying an additional 1,600,000 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after buying an additional 3,736,560 shares during the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $14.56 on Monday. The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.10 billion, a PE ratio of -10.11 and a beta of 0.96. The company’s fifty day moving average is $12.01 and its 200 day moving average is $11.41. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. Research analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current 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.