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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.60.

Several research analysts have commented on OCUL shares. Piper Sandler boosted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Ocular Therapeutix in a research report on Friday. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Finally, Bank of America started coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company.

Ocular Therapeutix Stock Down 2.8 %

Shares of OCUL opened at $5.08 on Tuesday. Ocular Therapeutix has a one year low of $2.00 and a one year high of $11.31. The company has a market cap of $754.30 million, a P/E ratio of -4.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The firm has a 50 day simple moving average of $8.75 and a two-hundred day simple moving average of $5.35.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data 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 business had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Research analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Summer Road Llc bought 930,851 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the transaction, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summer Road Llc bought 930,851 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the transaction, the insider now directly owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. Insiders sold 39,366 shares of company stock valued at $194,862 over the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Trading of Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. Franklin Resources Inc. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $20,071,000. Great Point Partners LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $3,122,000. Artia Global Partners LP bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $1,962,000. Deltec Asset Management LLC boosted its holdings in shares of Ocular Therapeutix by 18.5% during the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after buying an additional 381,810 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $1,652,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.