Ocular Therapeutix (NASDAQ:OCUL) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $15.00 target price on the biopharmaceutical company’s stock.

OCUL has been the topic of a number of other reports. Needham & Company LLC reduced their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Royal Bank of Canada began coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective on the stock. William Blair assumed coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an “outperform” rating on the stock. Finally, JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Ocular Therapeutix Stock Down 1.6%

Shares of OCUL opened at $8.01 on Thursday. The stock has a market capitalization of $1.28 billion, a PE ratio of -6.07 and a beta of 1.51. Ocular Therapeutix has a 1 year low of $4.79 and a 1 year high of $11.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The company’s 50-day simple moving average is $7.37 and its 200-day simple moving average is $7.91.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results 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 business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. Analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pravin Dugel sold 21,219 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the sale, the insider now owns 3,499,099 shares of the company’s stock, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Md Lindstrom bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the transaction, the director now directly owns 172,704 shares in the company, valued at approximately $1,202,019.84. This represents a 6.15% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 29,079 shares of company stock worth $208,739. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Rhumbline Advisers increased its position in Ocular Therapeutix by 4.5% in the 1st quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company’s stock valued at $1,635,000 after acquiring an additional 9,514 shares during the period. Caxton Associates LLP acquired a new stake in Ocular Therapeutix during the 1st quarter valued at $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock valued at $686,000 after buying an additional 5,156 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Ocular Therapeutix by 44.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after buying an additional 1,600,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ocular Therapeutix during the 1st quarter valued at $1,011,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.