Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Rating of “Buy” from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been given a consensus recommendation of “Buy” by the five ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.80.

A number of research analysts have recently commented on OCUL shares. Piper Sandler boosted their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Bank of America started coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, March 13th.

Ocular Therapeutix Trading Down 2.4 %

Shares of OCUL stock opened at $7.80 on Tuesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.24 and a beta of 1.31. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The firm’s 50 day moving average price is $8.63 and its two-hundred day moving average price is $5.25.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.28). The firm had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. On average, analysts anticipate that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the acquisition, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the completion of the sale, the insider now owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summer Road Llc bought 930,851 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock valued at $194,862 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 2,175 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 7,152 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Ocular Therapeutix by 61.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,730 shares during the last quarter. Institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.