Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $15.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 109.79% from the stock’s current price.

Ocular Therapeutix Stock Up 10.0 %

Shares of NASDAQ:OCUL opened at $7.15 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a market cap of $1.12 billion, a P/E ratio of -5.42 and a beta of 1.22. Ocular Therapeutix has a 1-year low of $4.06 and a 1-year high of $11.78. The firm has a fifty day moving average price of $7.81 and a 200 day moving average price of $8.89.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. Sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now owns 204,563 shares in the company, valued at approximately $1,603,773.92. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock worth $283,772 over the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its stake in shares of Ocular Therapeutix by 43.9% during the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after purchasing an additional 895,304 shares during the period. Charles Schwab Investment Management Inc. grew its position in Ocular Therapeutix by 146.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after buying an additional 660,080 shares during the period. Braidwell LP increased its holdings in Ocular Therapeutix by 36.3% in the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after buying an additional 596,000 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $4,288,000. Finally, Millennium Management LLC acquired a new stake in shares of Ocular Therapeutix during the 4th quarter valued at approximately $3,819,000. 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.