Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $17.00 Average Target Price from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.00.

A number of research firms have recently commented on OCUL. Scotiabank initiated coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the transaction, the insider now directly owns 204,563 shares in the company, valued at approximately $1,603,773.92. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Heier sold 2,948 shares of Ocular Therapeutix 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 transaction, the insider now owns 269,059 shares in the company, valued at $2,424,221.59. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,368 shares of company stock worth $162,801. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix during the fourth quarter valued at about $43,000. Wellington Management Group LLP lifted its position in shares of Ocular Therapeutix by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company’s stock valued at $3,991,000 after buying an additional 4,488 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ocular Therapeutix by 123.6% during the 4th quarter. JPMorgan Chase & Co. now owns 189,295 shares of the biopharmaceutical company’s stock valued at $1,617,000 after acquiring an additional 104,650 shares during the period. Artisan Partners Limited Partnership increased its holdings in Ocular Therapeutix by 26.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company’s stock worth $11,398,000 after acquiring an additional 278,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Ocular Therapeutix by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock worth $72,453,000 after acquiring an additional 99,730 shares during the period. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $7.45 on Monday. Ocular Therapeutix has a 1 year low of $4.06 and a 1 year high of $11.77. The firm’s 50-day moving average is $8.35 and its 200 day moving average is $8.99. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -5.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

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.