Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Target Price at $16.80

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCULGet Free Report) have earned an average rating of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $17.60.

Several research firms have recently issued reports on OCUL. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Ocular Therapeutix in a report on Friday. Bank of America began coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 price objective on the stock. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, April 16th. Finally, Piper Sandler lifted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th.

Read Our Latest Research Report on OCUL

Insider Transactions at Ocular Therapeutix

In other news, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the sale, the chief financial officer now directly owns 139,932 shares of the company’s stock, valued at $692,663.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $31,843.35. Following the completion of the transaction, the chief financial officer now directly owns 139,932 shares in the company, valued at $692,663.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summer Road Llc purchased 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently bought and sold shares of OCUL. FMR LLC grew its stake in Ocular Therapeutix by 84.4% in the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 2,175 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Ocular Therapeutix by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,500 shares in the last quarter. Trust Co. of Vermont grew its stake in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in Ocular Therapeutix in the third quarter valued at approximately $37,000. Finally, SG Americas Securities LLC acquired a new position in Ocular Therapeutix in the third quarter valued at approximately $38,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL opened at $5.22 on Tuesday. The business’s fifty day moving average price is $8.75 and its two-hundred day moving average price is $5.31. The stock has a market cap of $775.85 million, a PE ratio of -4.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31.

Ocular Therapeutix (NASDAQ:OCULGet Free Report) last posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. On average, analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

About Ocular Therapeutix

(Get Free Report

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.

Further Reading

Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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