Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.38.

Several analysts have recently commented on OCUL shares. JMP Securities set a $19.00 target price on Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th.

Insider Activity

In other 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 value of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. This represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares in the company, valued at $1,510,797.64. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in Ocular Therapeutix during the 4th quarter worth approximately $28,000. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter worth $43,000. AlphaQuest LLC acquired a new stake in Ocular Therapeutix in the fourth quarter worth $53,000. Tower Research Capital LLC TRC boosted its position in shares of Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 8,446 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $90,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $7.33 on Tuesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.55 and a beta of 1.34. The firm’s 50-day moving average price is $7.51 and its two-hundred day moving average price is $8.75. 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 announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 business had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. On average, equities analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

About Ocular Therapeutix

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.