Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $25.75 Average PT from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.75.

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Chardan Capital restated a “buy” rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $10.50 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -7.39 and a beta of 0.97. The firm’s 50 day simple moving average is $9.89 and its 200-day simple moving average is $9.36. Ocular Therapeutix has a 12 month low of $6.23 and a 12 month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned ($0.39) earnings per share. Analysts expect that Ocular Therapeutix will post -1.47 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other news, insider Peter Kaiser sold 3,035 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $32,686.95. Following the transaction, the insider directly owned 264,378 shares of the company’s stock, valued at approximately $2,847,351.06. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Heier sold 3,296 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.78, for a total transaction of $35,530.88. Following the sale, the insider directly owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 29,877 shares of company stock valued at $321,827. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. Engineers Gate Manager LP purchased a new stake in shares of Ocular Therapeutix in the second quarter valued at about $401,000. Integrated Wealth Concepts LLC purchased a new position in Ocular Therapeutix during the second quarter worth about $51,000. NewEdge Advisors LLC boosted its holdings in Ocular Therapeutix by 21.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,979 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Ocular Therapeutix by 44.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock valued at $13,904,000 after purchasing an additional 435,156 shares during the last quarter. Finally, Second Line Capital LLC grew its stake in shares of Ocular Therapeutix by 20.9% in the 2nd quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock valued at $6,271,000 after buying an additional 110,350 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.