Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $25.75 Average Price Target from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $25.75.

OCUL has been the topic of several analyst reports. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Robert W. Baird raised their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Chardan Capital reiterated a “buy” rating and set a $23.00 target price on shares of Ocular Therapeutix in a report on Wednesday, September 16th. Finally, Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,649 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the sale, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Heier sold 3,296 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the sale, the insider directly owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,877 shares of company stock worth $321,827 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OCUL. Hilton Head Capital Partners LLC raised its stake in Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,053 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $31,000. Principal Financial Group Inc. increased its holdings in shares of Ocular Therapeutix by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 13,623 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 2,642 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Ocular Therapeutix by 21.7% during the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 2,979 shares during the last quarter. Finally, Union Bancaire Privee UBP SA raised its stake in Ocular Therapeutix by 13.6% in the 1st quarter. Union Bancaire Privee UBP SA now owns 25,000 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 3,000 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $9.99 on Wednesday. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. Ocular Therapeutix has a twelve month low of $6.23 and a twelve month high of $16.44. The stock has a market capitalization of $2.19 billion, a P/E ratio of -7.04 and a beta of 0.97. The company has a 50 day moving average of $9.88 and a 200-day moving average of $9.37.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same quarter in the previous year, the firm posted ($0.39) earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that Ocular Therapeutix will post -1.47 EPS for the current fiscal year.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.