Ocular Therapeutix (NASDAQ:OCUL) Given New $15.00 Price Target at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL) had its price objective hoisted by research analysts at HC Wainwright from $14.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 51.21% from the company’s current price.

Several other brokerages have also commented on OCUL. Robert W. Baird cut their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Scotiabank initiated coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.71.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $9.92 on Friday. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a 52 week low of $2.05 and a 52 week high of $11.77. The firm’s 50 day moving average is $9.83 and its two-hundred day moving average is $7.96. The firm has a market capitalization of $1.55 billion, a P/E ratio of -7.35 and a beta of 1.26.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. Erste Asset Management GmbH acquired a new stake in shares of Ocular Therapeutix during the third quarter worth $2,047,000. PFM Health Sciences LP purchased a new position in Ocular Therapeutix during the 3rd quarter worth $3,505,000. Braidwell LP lifted its stake in shares of Ocular Therapeutix by 36.3% in the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after acquiring an additional 596,000 shares during the period. Knoll Capital Management LLC boosted its holdings in shares of Ocular Therapeutix by 199.6% in the third quarter. Knoll Capital Management LLC now owns 600,400 shares of the biopharmaceutical company’s stock valued at $5,223,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Ocular Therapeutix in the third quarter valued at about $544,000. Hedge funds and other 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.