Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from Chardan Capital

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a research report issued on Friday, Benzinga reports. They presently have a $23.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price objective points to a potential upside of 230.22% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Ocular Therapeutix in a report on Wednesday, September 16th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday. Finally, Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL traded down $0.33 during trading hours on Friday, hitting $6.97. 3,643,723 shares of the company’s stock were exchanged, compared to its average volume of 3,990,569. Ocular Therapeutix has a 1-year low of $6.23 and a 1-year high of $16.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.90 and a beta of 1.00. The company’s 50-day moving average price is $9.83 and its 200-day moving average price is $9.30.

Ocular Therapeutix (NASDAQ:OCUL) last posted 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. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.39) EPS. On average, sell-side analysts expect that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, insider Peter Kaiser sold 3,035 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the completion of the sale, the insider directly owned 264,378 shares of the company’s stock, valued at $2,847,351.06. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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. Also, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $233,159.73. Following the sale, the insider directly owned 2,525,429 shares of the company’s stock, valued at $27,198,870.33. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 29,877 shares of company stock valued at $321,827 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OCUL. BlackRock Inc. bought a new position in shares of Ocular Therapeutix in the 2nd quarter worth $190,278,000. Summer Road LLC boosted its position in shares of Ocular Therapeutix by 6.9% in the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after purchasing an additional 771,270 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Ocular Therapeutix by 5.1% in the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after purchasing an additional 527,777 shares during the last quarter. Octagon Capital Advisors LP boosted its position in shares of Ocular Therapeutix by 20.7% in the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock worth $26,821,000 after purchasing an additional 543,000 shares during the last quarter. Finally, Commodore Capital LP bought a new position in shares of Ocular Therapeutix in the 1st quarter worth $21,810,000. 59.21% of the stock is currently owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.