Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.29.

A number of brokerages have recently issued reports on OCUL. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Needham & Company LLC initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday. They set a “buy” rating and a $15.00 price objective for the company.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $7.88 on Friday. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $7.71 and a 200-day moving average of $8.83. Ocular Therapeutix has a twelve month low of $4.06 and a twelve month high of $11.78. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -5.97 and a beta of 1.34.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. Analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald Notman sold 6,301 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the sale, the insider now owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently modified their holdings of OCUL. GF Fund Management CO. LTD. purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ocular Therapeutix by 48.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,588 shares of the biopharmaceutical company’s stock valued at $1,867,000 after buying an additional 70,904 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Ocular Therapeutix by 252.9% in the 4th quarter. Two Sigma Advisers LP now owns 36,700 shares of the biopharmaceutical company’s stock valued at $313,000 after buying an additional 26,300 shares in the last quarter. Two Sigma Investments LP increased its holdings in Ocular Therapeutix by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 252,939 shares of the biopharmaceutical company’s stock worth $2,160,000 after buying an additional 45,518 shares during the last quarter. Finally, Second Line Capital LLC raised its position in Ocular Therapeutix by 29.4% during the fourth quarter. Second Line Capital LLC now owns 340,098 shares of the biopharmaceutical company’s stock valued at $2,904,000 after acquiring an additional 77,288 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.