Ocular Therapeutix (NASDAQ:OCUL) Given “Buy” Rating at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $25.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $21.00. HC Wainwright’s price objective points to a potential upside of 160.47% from the company’s previous close.

A number of other research analysts have also recently issued reports on OCUL. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.89.

Ocular Therapeutix Stock Down 0.4%

NASDAQ OCUL traded down $0.04 during trading hours on Thursday, reaching $9.60. 2,900,705 shares of the company’s stock traded hands, compared to its average volume of 4,721,223. Ocular Therapeutix has a 52-week low of $6.23 and a 52-week high of $16.44. The firm has a market cap of $2.10 billion, a PE ratio of -6.53 and a beta of 0.89. The firm has a 50-day simple moving average of $8.95 and a 200 day simple moving average of $9.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, 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. In the last quarter, insiders sold 28,999 shares of company stock worth $237,792. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in OCUL. Steward Partners Investment Advisory LLC lifted its position in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC lifted its position in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $61,000. Finally, KBC Group NV bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $78,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.