Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $15.67 Consensus Price Target from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.67.

A number of equities research analysts have commented on OCUL shares. TD Cowen cut Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a report on Friday, June 21st. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Friday, June 21st. Robert W. Baird cut their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, August 1st.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Cetera Investment Advisers raised its holdings in shares of Ocular Therapeutix by 1.8% in the second quarter. Cetera Investment Advisers now owns 739,044 shares of the biopharmaceutical company’s stock valued at $5,055,000 after acquiring an additional 13,054 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Ocular Therapeutix during the 2nd quarter valued at about $6,840,000. Point72 Asset Management L.P. bought a new stake in shares of Ocular Therapeutix in the 2nd quarter valued at about $18,514,000. Second Line Capital LLC purchased a new stake in shares of Ocular Therapeutix in the 2nd quarter worth approximately $1,798,000. Finally, Algert Global LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at approximately $69,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Trading Down 0.1 %

Shares of OCUL stock opened at $9.04 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -6.70 and a beta of 1.28. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The firm has a fifty day moving average price of $8.41 and a 200-day moving average price of $7.48.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The firm had revenue of $16.40 million during the quarter, compared to the consensus estimate of $15.85 million. During the same quarter in the previous year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Ocular Therapeutix will post -1.02 earnings per share for the current year.

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.