Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $16.38.

A number of research analysts recently weighed in on OCUL shares. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC initiated coverage on Ocular Therapeutix in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective on the stock. Royal Bank of Canada assumed coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, JMP Securities set a $19.00 target price on Ocular Therapeutix in a report on Tuesday, March 4th.

Insider Buying and Selling

In related news, insider Pravin Dugel sold 21,475 shares of the business’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 completion of the transaction, the insider now owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald Notman sold 11,119 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the sale, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,895 shares of company stock valued at $283,772. Insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC grew its position in Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock worth $792,000 after purchasing an additional 2,454 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Ocular Therapeutix by 10.0% in the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 2,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ocular Therapeutix by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock worth $755,000 after acquiring an additional 2,853 shares during the period. HighVista Strategies LLC raised its position in Ocular Therapeutix by 5.1% during the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $28,000. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Stock Down 9.1 %

NASDAQ OCUL opened at $6.36 on Tuesday. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 12 month low of $4.06 and a 12 month high of $11.78. The stock’s 50 day moving average is $7.42 and its 200 day moving average is $8.69. The stock has a market cap of $1.01 billion, a PE ratio of -4.82 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The firm had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Research analysts predict that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

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.