Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.38 Consensus PT from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $16.38.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price target on the stock. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Needham & Company LLC started coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price for the company.

Ocular Therapeutix Trading Down 9.1 %

NASDAQ:OCUL opened at $6.36 on Tuesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -4.82 and a beta of 1.49. Ocular Therapeutix has a 52 week low of $4.06 and a 52 week high of $11.78. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $7.42 and a 200 day moving average of $8.69.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, research analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, the insider now owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its position in Ocular Therapeutix by 43.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after acquiring an additional 895,304 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ocular Therapeutix by 146.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in Ocular Therapeutix during the third quarter valued at about $4,288,000. Millennium Management LLC bought a new stake in Ocular Therapeutix during the fourth quarter valued at about $3,819,000. Finally, FMR LLC increased its position in Ocular Therapeutix by 7,098.7% in the third quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock worth $3,779,000 after buying an additional 428,335 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.