Ocular Therapeutix (NASDAQ:OCUL) Price Target Raised to $20.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target lifted by Needham & Company LLC from $15.00 to $20.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also commented on OCUL. JMP Securities boosted their price objective on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday. Scotiabank dropped their price objective on shares of Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Chardan Capital assumed coverage on shares of Ocular Therapeutix in a research note on Monday, September 15th. They set a “buy” rating and a $21.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.13.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $11.41 on Wednesday. Ocular Therapeutix has a 1 year low of $5.78 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. The company’s 50-day moving average is $12.30 and its 200 day moving average is $9.72. The stock has a market capitalization of $1.99 billion, a P/E ratio of -8.91 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The company had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $13.12 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. Ocular Therapeutix’s quarterly revenue was down 17.7% compared to the same quarter last year. On average, sell-side analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In other news, insider Peter Kaiser sold 3,011 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $36,252.44. Following the transaction, the insider owned 204,093 shares in the company, valued at approximately $2,457,279.72. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Pravin Dugel sold 21,494 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the transaction, the insider owned 3,227,244 shares in the company, valued at approximately $38,856,017.76. This represents a 0.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,519 shares of company stock worth $367,865. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in Ocular Therapeutix by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Brooklyn Investment Group lifted its position in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. GAMMA Investing LLC lifted its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 8,112 shares during the period. Finally, Trust Co. of Vermont lifted its position in Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares during the period. Institutional investors 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.