Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 109.79% from the stock’s current price.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $7.15 on Tuesday. Ocular Therapeutix has a 12-month low of $4.06 and a 12-month high of $11.78. The stock has a market cap of $1.12 billion, a P/E ratio of -5.42 and a beta of 1.22. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $7.81 and a two-hundred day moving average of $8.89.

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

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the transaction, the insider now directly owns 204,563 shares of the company’s stock, valued at $1,603,773.92. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently made changes to their positions in the business. Deep Track Capital LP boosted its holdings in shares of Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company’s stock valued at $109,622,000 after acquiring an additional 114,822 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ocular Therapeutix by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock valued at $72,453,000 after purchasing an additional 99,730 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Ocular Therapeutix by 43.9% during the 4th 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. Deltec Asset Management LLC boosted its holdings in shares of Ocular Therapeutix by 0.6% during the fourth quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company’s stock worth $22,344,000 after purchasing an additional 16,300 shares during the period. Finally, Braidwell LP boosted its stake in shares of Ocular Therapeutix by 36.3% during the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after buying an additional 596,000 shares during the period. 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.