Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of “Buy” by Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.33.

Several equities analysts have recently issued reports on OCUL shares. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Thursday, May 29th. Needham & Company LLC dropped their price objective on shares of Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. William Blair initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company.

Ocular Therapeutix Trading Down 2.4%

OCUL opened at $8.13 on Friday. The business has a fifty day moving average price of $7.87 and a 200 day moving average price of $7.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.22 and a quick ratio of 10.14. Ocular Therapeutix has a 12 month low of $5.79 and a 12 month high of $11.78. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -7.07 and a beta of 1.42.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,219 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $152,352.42. Following the completion of the transaction, the insider now owns 3,499,099 shares in the company, valued at $25,123,530.82. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the acquisition, the director now owns 172,704 shares of the company’s stock, valued at approximately $1,202,019.84. The trade was a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 29,079 shares of company stock worth $208,739 over the last three months. Insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its stake in Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after buying an additional 1,600,000 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Ocular Therapeutix in the 1st quarter valued at $9,632,000. Point72 Asset Management L.P. increased its holdings in shares of Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock valued at $25,073,000 after acquiring an additional 895,304 shares during the period. Peregrine Capital Management LLC purchased a new stake in Ocular Therapeutix in the 1st quarter valued at $6,212,000. Finally, Millennium Management LLC acquired a new stake in Ocular Therapeutix during the 4th quarter worth $3,819,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.