Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Recommendation of “Buy” from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $17.20.

Several analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Scotiabank decreased their price target on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th. Finally, Needham & Company LLC lifted their price objective on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th.

Insiders Place Their Bets

In related news, insider Peter Kaiser sold 3,011 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,252.44. Following the sale, the insider owned 204,093 shares of the company’s stock, valued at $2,457,279.72. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,494 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $258,787.76. Following the sale, the insider directly owned 3,227,244 shares in the company, valued at approximately $38,856,017.76. The trade was a 0.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,519 shares of company stock worth $367,865. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in shares of Ocular Therapeutix by 19,194.3% in the 2nd quarter. Osaic Holdings Inc. now owns 67,530 shares of the biopharmaceutical company’s stock worth $627,000 after buying an additional 67,180 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Ocular Therapeutix by 96.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 61,995 shares of the biopharmaceutical company’s stock valued at $575,000 after buying an additional 30,460 shares in the last quarter. Marex Group plc acquired a new position in Ocular Therapeutix during the second quarter worth about $115,000. Hudson Bay Capital Management LP bought a new stake in Ocular Therapeutix in the second quarter worth about $502,000. Finally, Second Line Capital LLC raised its position in Ocular Therapeutix by 11.4% in the second quarter. Second Line Capital LLC now owns 385,467 shares of the biopharmaceutical company’s stock worth $3,577,000 after acquiring an additional 39,369 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Trading Up 7.1%

Ocular Therapeutix stock opened at $13.60 on Friday. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -10.63 and a beta of 1.50. The firm has a 50-day moving average price of $11.68 and a two-hundred day moving average price of $9.03.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Ocular Therapeutix’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.26) EPS. Sell-side analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

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.