Ocular Therapeutix (NASDAQ:OCUL) Coverage Initiated by Analysts at Royal Bank of Canada

Investment analysts at Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $17.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential upside of 120.78% from the stock’s previous close.

A number of other brokerages have also issued reports on OCUL. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Needham & Company LLC began coverage on Ocular Therapeutix in a research note on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Trading Up 3.4 %

NASDAQ:OCUL opened at $7.70 on Tuesday. Ocular Therapeutix has a one year low of $4.06 and a one year high of $11.78. 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 firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.83 and a beta of 1.34. The business has a fifty day moving average price of $7.61 and a 200-day moving average price of $8.80.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $16.89 million. Sell-side analysts forecast that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Donald Notman sold 11,119 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction 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. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock valued at $283,772 in the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $28,000. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $43,000. AlphaQuest LLC purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $53,000. Tower Research Capital LLC TRC raised its position in Ocular Therapeutix by 2,045.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 8,446 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $90,000. 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.