Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.80 Average Price Target from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average rating of “Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $16.80.

A number of research analysts have issued reports on OCUL shares. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. Bank of America started coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. Piper Sandler increased their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. JMP Securities restated a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. Finally, StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th.

Ocular Therapeutix Stock Down 22.7 %

Ocular Therapeutix stock opened at $5.86 on Tuesday. The stock has a market cap of $870.97 million, a P/E ratio of -4.69 and a beta of 1.30. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31. The company’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $5.29.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, analysts expect that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Summer Road Llc purchased 930,851 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares in the company, valued at approximately $2,118,317.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,366 shares of company stock worth $194,862. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in the stock. Summer Road LLC boosted its position in Ocular Therapeutix by 0.4% in the fourth quarter. Summer Road LLC now owns 6,122,089 shares of the biopharmaceutical company’s stock valued at $17,203,000 after buying an additional 27,328 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ocular Therapeutix by 7.0% during the second quarter. BlackRock Inc. now owns 5,262,920 shares of the biopharmaceutical company’s stock valued at $27,157,000 after acquiring an additional 344,611 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ocular Therapeutix by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock valued at $22,827,000 after acquiring an additional 1,057,123 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Ocular Therapeutix during the fourth quarter valued at $20,071,000. Finally, Deltec Asset Management LLC raised its stake in shares of Ocular Therapeutix by 18.5% during the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after acquiring an additional 381,810 shares during the last quarter. 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.