HC Wainwright Boosts Ocular Therapeutix (NASDAQ:OCUL) Price Target to $15.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target upped by equities researchers at HC Wainwright from $14.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 63.76% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird reduced their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Scotiabank initiated coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $9.16 on Friday. Ocular Therapeutix has a 52-week low of $2.05 and a 52-week high of $11.77. The company has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $8.02. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently bought and sold shares of OCUL. Deltec Asset Management LLC lifted its position in shares of Ocular Therapeutix by 9.6% in the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after acquiring an additional 226,181 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Ocular Therapeutix by 1,142.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after purchasing an additional 609,328 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Ocular Therapeutix by 1,455.0% in the first quarter. Cetera Advisors LLC now owns 723,490 shares of the biopharmaceutical company’s stock valued at $6,584,000 after buying an additional 676,963 shares during the last quarter. Finally, Banco Santander S.A. lifted its stake in shares of Ocular Therapeutix by 81.3% during the second quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock valued at $2,581,000 after buying an additional 169,172 shares during the period. 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.