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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.7778.

Several analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Wall Street Zen cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, January 22nd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 18th.

Insider Buying and Selling at Ocular Therapeutix

In related news, COO Donald Notman sold 11,446 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $103,471.84. Following the transaction, the chief operating officer owned 366,356 shares of the company’s stock, valued at $3,311,858.24. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjay Nayak sold 10,348 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the transaction, the insider owned 332,412 shares of the company’s stock, valued at $3,005,004.48. The trade was a 3.02% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 197,221 shares of company stock worth $1,754,805. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors have recently made changes to their positions in OCUL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 5,156 shares during the period. Caxton Associates LLP acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at about $248,000. Creative Planning boosted its holdings in Ocular Therapeutix by 21.5% during the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 3,791 shares in the last quarter. Swiss National Bank grew its position in Ocular Therapeutix by 7.3% during the second quarter. Swiss National Bank now owns 197,400 shares of the biopharmaceutical company’s stock worth $1,832,000 after buying an additional 13,400 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock worth $6,608,000 after buying an additional 374,269 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $8.10 on Wednesday. Ocular Therapeutix has a 12 month low of $5.80 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The business has a 50 day simple moving average of $9.44 and a 200-day simple moving average of $11.18. The stock has a market capitalization of $1.76 billion, a PE ratio of -5.63 and a beta of 0.91.

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

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.