Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Target Price at $16.71

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.71.

A number of analysts have issued reports on the company. Scotiabank assumed coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd.

Ocular Therapeutix Price Performance

OCUL stock opened at $8.01 on Thursday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -6.07 and a beta of 1.23. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 52-week low of $3.76 and a 52-week high of $11.77. The stock’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $8.97.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 2,948 shares of the firm’s stock in a transaction on 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently added to or reduced their stakes in OCUL. Assenagon Asset Management S.A. acquired a new position in shares of Ocular Therapeutix during the third quarter worth about $24,584,000. Point72 Asset Management L.P. acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at about $18,514,000. Nantahala Capital Management LLC purchased a new stake in shares of Ocular Therapeutix during the 2nd quarter valued at about $6,840,000. Avoro Capital Advisors LLC raised its holdings in shares of Ocular Therapeutix by 12.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after buying an additional 911,064 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $9,661,000 after acquiring an additional 660,080 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.