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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $23.7778.

OCUL has been the topic of several research analyst reports. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Wall Street Zen cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a report on Thursday, February 5th. Needham & Company LLC reduced their target price on Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 18th.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $8.94 on Friday. The stock has a 50-day moving average price of $10.31 and a 200 day moving average price of $11.57. The stock has a market capitalization of $1.95 billion, a P/E ratio of -6.21 and a beta of 0.90. Ocular Therapeutix has a 12-month low of $5.78 and a 12-month high of $16.44. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11.

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

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Sanjay Nayak sold 10,348 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the sale, the insider owned 332,412 shares in the company, valued at approximately $3,005,004.48. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Md Lindstrom acquired 60,229 shares of the stock in a transaction on Friday, February 20th. The shares were acquired at an average price of $7.66 per share, with a total value of $461,354.14. Following the transaction, the director directly owned 246,933 shares of the company’s stock, valued at $1,891,506.78. The trade was a 32.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 197,221 shares of company stock worth $1,754,805. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently made changes to their positions in the business. Seven Fleet Capital Management LP bought a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $208,000. Virtu Financial LLC increased its stake in Ocular Therapeutix by 470.2% during the fourth quarter. Virtu Financial LLC now owns 65,627 shares of the biopharmaceutical company’s stock worth $797,000 after acquiring an additional 54,117 shares during the last quarter. XTX Topco Ltd raised its position in Ocular Therapeutix by 42.5% during the fourth quarter. XTX Topco Ltd now owns 49,073 shares of the biopharmaceutical company’s stock valued at $596,000 after purchasing an additional 14,640 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $9,859,000. Finally, Wellington Management Group LLP lifted its stake in shares of Ocular Therapeutix by 20.7% in the 4th quarter. Wellington Management Group LLP now owns 74,317 shares of the biopharmaceutical company’s stock valued at $902,000 after purchasing an additional 12,753 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors.

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.