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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.71.

OCUL has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd. Scotiabank assumed coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price objective for the company.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the transaction, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Amalgamated Bank grew its holdings in Ocular Therapeutix by 37.9% during the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $49,000 after acquiring an additional 1,015 shares during the period. Algert Global LLC bought a new position in Ocular Therapeutix during the second quarter worth about $69,000. Capital Performance Advisors LLP purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $70,000. Finally, Diversified Trust Co bought a new position in Ocular Therapeutix in the 3rd quarter worth approximately $106,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Trading Up 3.4 %

NASDAQ:OCUL opened at $8.13 on Thursday. Ocular Therapeutix has a 52 week low of $3.76 and a 52 week high of $11.77. The firm’s fifty day moving average is $9.11 and its 200-day moving average is $8.95. The firm has a market cap of $1.28 billion, a P/E ratio of -6.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

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.