Ocular Therapeutix (NASDAQ:OCUL) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $15.00 target price on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. 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 MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $16.29.

Ocular Therapeutix Stock Up 11.2 %

Ocular Therapeutix stock opened at $8.51 on Tuesday. The company has a market capitalization of $1.35 billion, a P/E ratio of -6.45 and a beta of 1.34. The firm’s fifty day simple moving average is $7.73 and its 200-day simple moving average is $8.84. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 1-year low of $4.06 and a 1-year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL) last posted 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). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Sell-side analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald Notman sold 6,301 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the transaction, the insider now owns 204,563 shares of the company’s stock, valued at $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock valued at $283,772 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently modified their holdings of OCUL. Point72 Asset Management L.P. increased its holdings in shares of Ocular Therapeutix by 43.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after buying an additional 895,304 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ocular Therapeutix by 146.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares in the last quarter. Braidwell LP increased its holdings in Ocular Therapeutix by 36.3% during the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after purchasing an additional 596,000 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Ocular Therapeutix during the 3rd quarter valued at $4,288,000. Finally, Millennium Management LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $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.