Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Price Target at $17.00

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $17.00.

Separately, 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.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $7.54 on Friday. The stock has a market cap of $1.20 billion, a PE ratio of -5.71 and a beta of 1.34. The business has a 50-day simple moving average of $7.74 and a 200-day simple moving average of $8.86. 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 $4.06 and a 52-week high of $11.78.

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

Insider Buying and Selling

In other Ocular Therapeutix news, insider Donald Notman sold 11,119 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction 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. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deep Track Capital LP grew its holdings in shares of Ocular Therapeutix by 0.9% during the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company’s stock worth $109,622,000 after purchasing an additional 114,822 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ocular Therapeutix by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock valued at $72,453,000 after acquiring an additional 99,730 shares during the period. Point72 Asset Management L.P. lifted its position 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 valued at $25,073,000 after acquiring an additional 895,304 shares during the period. Deltec Asset Management LLC raised its position in shares of Ocular Therapeutix by 0.6% during the 4th quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company’s stock worth $22,344,000 after purchasing an additional 16,300 shares during the last quarter. Finally, Braidwell LP grew its stake in Ocular Therapeutix by 36.3% in the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after acquiring an additional 596,000 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.