Ocular Therapeutix (NASDAQ:OCUL) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $15.00 target price on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on OCUL. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. JMP Securities set a $19.00 price target on Ocular Therapeutix in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $7.88 on Tuesday. The company has a market cap of $1.25 billion, a P/E ratio of -5.97 and a beta of 1.34. Ocular Therapeutix has a one year low of $4.06 and a one year high of $11.78. The business’s 50-day simple moving average is $7.71 and its 200 day simple moving average is $8.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

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 analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, sell-side analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Ocular Therapeutix in the fourth quarter worth approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ocular Therapeutix by 48.0% in 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 purchasing an additional 70,904 shares during the period. Two Sigma Advisers LP lifted its position 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 worth $313,000 after acquiring an additional 26,300 shares during the period. Two Sigma Investments LP boosted its stake in Ocular Therapeutix by 21.9% during 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 in the last quarter. Finally, Second Line Capital LLC grew its position in Ocular Therapeutix by 29.4% in 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 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.