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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $23.7778.

A number of equities analysts recently issued reports on OCUL shares. Chardan Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, April 13th. Jefferies Financial Group restated a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,999 shares of company stock worth $237,792 in the last 90 days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its stake in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix during the 4th quarter worth about $31,000. Hilton Head Capital Partners LLC grew its stake in shares of Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix in the 4th quarter valued at $61,000. Finally, KBC Group NV acquired a new stake in Ocular Therapeutix in the fourth quarter worth about $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $8.25 on Monday. The business has a 50 day moving average price of $8.83 and a 200 day moving average price of $10.12. Ocular Therapeutix has a twelve month low of $6.23 and a twelve month high of $16.44. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -5.65 and a beta of 0.89. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12.

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.