Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.1111.

A number of research firms have weighed in on OCUL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Zacks Research downgraded Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Robert W. Baird increased their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Chardan Capital lifted their target price on Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 25th.

Insider Buying and Selling

In other news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,999 shares of company stock worth $237,792 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in shares of Ocular Therapeutix by 3,136.1% during the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after acquiring an additional 3,736,560 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Ocular Therapeutix by 2,003.2% in the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after purchasing an additional 3,261,619 shares in the last quarter. Commodore Capital LP acquired a new stake in Ocular Therapeutix in the 1st quarter valued at $21,810,000. Vanguard Group Inc. increased its holdings in Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Ocular Therapeutix by 106.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after purchasing an additional 2,180,702 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Trading Up 2.8%

NASDAQ OCUL opened at $8.40 on Tuesday. Ocular Therapeutix has a 12 month low of $6.23 and a 12 month high of $16.44. The company has a 50-day moving average of $9.15 and a 200-day moving average of $9.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The company has a market cap of $1.84 billion, a P/E ratio of -5.75 and a beta of 0.93.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 558.24% and a negative return on equity of 64.28%. The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period in the prior year, the firm posted ($0.39) EPS. The company’s revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Ocular Therapeutix will post -1.59 earnings per share for the current year.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.