Ocular Therapeutix (NASDAQ:OCUL) Given “Buy” Rating at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $25.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $21.00. HC Wainwright’s target price points to a potential upside of 160.47% from the company’s previous close.

Several other equities research analysts have also commented on OCUL. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. William Blair restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average target price of $24.89.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL traded down $0.04 during midday trading on Thursday, hitting $9.60. The company had a trading volume of 2,900,705 shares, compared to its average volume of 4,721,223. 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 $2.10 billion, a price-to-earnings ratio of -6.53 and a beta of 0.89. Ocular Therapeutix has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a fifty day moving average of $8.95 and a two-hundred day moving average of $9.94.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 have sold 28,999 shares of company stock worth $237,792 over the last three months. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC grew its stake in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,053 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Ocular Therapeutix by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 1,314 shares in the last quarter. Trust Co. of Vermont grew its stake in Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 1,750 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Ocular Therapeutix by 21.2% during the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 2,343 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.