Ocular Therapeutix (NASDAQ:OCUL) Stock Keeps “Buy” Rating at Chardan Capital

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They presently have a $23.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price target indicates a potential upside of 223.72% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Ocular Therapeutix Price Performance

Shares of OCUL stock traded down $0.19 on Friday, reaching $7.11. 1,007,083 shares of the company were exchanged, compared to its average volume of 3,976,599. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -5.02 and a beta of 1.00. The business has a 50-day moving average price of $9.83 and a 200 day moving average price of $9.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Equities research analysts forecast that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey Heier sold 3,296 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the transaction, the insider directly owned 318,326 shares in the company, valued at $3,431,554.28. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Peter Kaiser sold 3,035 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the completion of the transaction, the insider owned 264,378 shares in the company, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. 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. Insiders have sold 29,877 shares of company stock worth $321,827 in the last ninety days. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new position in shares of Ocular Therapeutix in the 2nd quarter worth approximately $401,000. Integrated Wealth Concepts LLC acquired a new position in shares of Ocular Therapeutix in the 2nd quarter worth approximately $51,000. NewEdge Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 21.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 2,979 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Ocular Therapeutix by 44.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after acquiring an additional 435,156 shares during the last quarter. Finally, Second Line Capital LLC lifted its holdings 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 worth $6,271,000 after acquiring an additional 110,350 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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 formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.