HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 58.23% from the stock’s current price.

Other research analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Trading Down 0.1 %

NASDAQ OCUL opened at $9.48 on Tuesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of -7.18 and a beta of 1.19. The business has a 50 day simple moving average of $10.03 and a 200 day simple moving average of $8.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. Ocular Therapeutix has a one year low of $3.24 and a one year high of $11.77.

Insider Activity at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % 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. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OCUL. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,015 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Ocular Therapeutix by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after buying an additional 1,168 shares during the period. Amalgamated Bank lifted its position in shares of Ocular Therapeutix by 37.9% during the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,481 shares during the last quarter. HighVista Strategies LLC grew its stake in shares of Ocular Therapeutix by 5.1% during the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after acquiring an additional 3,168 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Ocular Therapeutix by 36.9% in the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 4,695 shares during the last quarter. Institutional investors 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.