Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Target Price at $16.38

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.38.

Several equities research analysts have issued reports on the stock. William Blair assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. Finally, JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th.

Ocular Therapeutix Trading Up 5.4 %

Shares of NASDAQ:OCUL opened at $8.13 on Friday. Ocular Therapeutix has a 12 month low of $4.62 and a 12 month high of $11.78. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $7.27 and its 200 day simple moving average is $8.45. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -6.16 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. As a group, research analysts forecast that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Donald Notman sold 11,119 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, the insider now owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock valued at $283,772 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently added to or reduced their stakes in OCUL. MetLife Investment Management LLC lifted its position in shares of Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock valued at $792,000 after acquiring an additional 2,454 shares during the period. Teacher Retirement System of Texas raised its stake in Ocular Therapeutix by 10.0% in the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ocular Therapeutix by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock worth $755,000 after purchasing an additional 2,853 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $28,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 3,347 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.