Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Recommendation of “Moderate Buy” by Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $22.5556.

A number of brokerages have recently commented on OCUL. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. JMP Securities lifted their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 1st. Robert W. Baird upped their price objective on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. HC Wainwright raised their price objective on Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Piper Sandler lifted their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd.

Ocular Therapeutix Trading Down 1.0%

OCUL opened at $11.38 on Friday. The firm has a 50 day simple moving average of $12.33 and a 200 day simple moving average of $11.90. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $16.44. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -7.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 7.85 and a quick ratio of 7.78.

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

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of OCUL. Nisa Investment Advisors LLC grew its position in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 893 shares during the period. Trust Co. of Vermont grew its position in Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,000 shares in the last quarter. Quarry LP bought a new position in Ocular Therapeutix during the 3rd quarter worth $80,000. Finally, Marex Group plc acquired a new position in Ocular Therapeutix in the 2nd quarter valued at $115,000. 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.