Ocular Therapeutix’s (OCUL) Buy Rating Reaffirmed at Chardan Capital

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report released on Friday, Benzinga reports. They presently have a $23.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price target suggests a potential upside of 213.39% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Robert W. Baird lifted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Ocular Therapeutix Stock Up 0.7%

NASDAQ OCUL opened at $7.34 on Friday. The stock has a fifty day moving average of $9.83 and a 200-day moving average of $9.30. The stock has a market capitalization of $1.61 billion, a P/E ratio of -5.15 and a beta of 1.00. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. 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 (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business had revenue of $13.48 million for the quarter, compared to analyst estimates of $13.20 million. During the same period last year, the company earned ($0.39) EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Ocular Therapeutix will post -1.47 EPS for the current year.

Insider Activity

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the firm’s stock in a transaction on 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the sale, the insider directly owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. This trade represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new stake in Ocular Therapeutix during the 4th quarter valued at $31,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth $42,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ocular Therapeutix in the second quarter worth $51,000. Caitong International Asset Management Co. Ltd boosted its stake in Ocular Therapeutix by 420.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 5,179 shares during the period. Finally, Trust Co. of Vermont bought a new stake in Ocular Therapeutix during the second quarter valued at $112,000. Institutional investors 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 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.