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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.1111.

OCUL has been the topic of a number of recent analyst reports. Chardan Capital lifted 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. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Finally, Robert W. Baird lifted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction 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 sale, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 a total of 28,999 shares of company stock valued at $237,792 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of OCUL. Millennium Management LLC grew its position in Ocular Therapeutix by 3,136.1% in the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after purchasing an additional 3,736,560 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Ocular Therapeutix by 2,003.2% during the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after buying an additional 3,261,619 shares during the last quarter. Commodore Capital LP acquired a new position in shares of Ocular Therapeutix during the first quarter valued at about $21,810,000. Vanguard Group Inc. lifted its stake in shares of Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after buying an additional 2,411,953 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Ocular Therapeutix by 106.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after buying an additional 2,180,702 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Up 1.5%

Ocular Therapeutix stock opened at $8.64 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a fifty day moving average price of $9.13 and a two-hundred day moving average price of $9.26. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -5.92 and a beta of 0.88.

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.