Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.71 Consensus PT from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.71.

Several equities analysts have issued reports on the company. Scotiabank started 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. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd.

Ocular Therapeutix Trading Down 1.2 %

NASDAQ OCUL opened at $8.44 on Friday. The firm’s fifty day moving average price is $9.74 and its 200 day moving average price is $8.72. Ocular Therapeutix has a 12 month low of $3.76 and a 12 month high of $11.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.39 and a beta of 1.19.

Insider Activity

In related news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Ocular Therapeutix by 37.1% in the third quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $4,451,000 after acquiring an additional 138,441 shares in the last quarter. Wellington Management Group LLP lifted its position in Ocular Therapeutix by 47.1% in the third quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock valued at $4,027,000 after purchasing an additional 148,310 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $4,288,000. Patient Square Capital LP acquired a new position in Ocular Therapeutix during the 3rd quarter worth approximately $2,049,000. Finally, HighVista Strategies LLC raised its stake in shares of Ocular Therapeutix by 5.1% during the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 3,168 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.