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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat 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 twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.1111.

OCUL has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Chardan Capital increased their price objective on Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Finally, Robert W. Baird upped their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th.

Ocular Therapeutix Trading Up 1.8%

Ocular Therapeutix stock opened at $9.64 on Friday. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -6.60 and a beta of 0.88. The company has a 50 day moving average price of $9.11 and a 200 day moving average price of $9.65.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the transaction, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 have sold 28,999 shares of company stock worth $237,792 over the last quarter. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its holdings in shares of 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 acquiring an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $31,000. Hilton Head Capital Partners LLC acquired a new position in Ocular Therapeutix in the 4th quarter worth about $42,000. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix in the 4th quarter worth about $61,000. Finally, State of Wyoming purchased a new stake in shares of Ocular Therapeutix during the 4th quarter worth about $78,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.