Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Reaffirmed by HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $16.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 173.04% from the stock’s current price.

Several other equities research analysts also recently issued reports on OCUL. Piper Sandler increased their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Bank of America assumed coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 price objective for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $5.86 on Friday. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The firm’s 50 day moving average is $8.74 and its 200-day moving average is $5.29. The firm has a market capitalization of $870.97 million, a price-to-earnings ratio of -4.69 and a beta of 1.30. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Sell-side analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, major shareholder Summer Road Llc bought 930,851 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the transaction, the insider now owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Summer Road Llc acquired 930,851 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the acquisition, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 in the last quarter. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Ocular Therapeutix by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,500 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Ocular Therapeutix in the third quarter valued at about $37,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ocular Therapeutix in the third quarter valued at about $38,000. Institutional investors and hedge funds 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.