Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.1111.
A number of research analysts recently commented on OCUL shares. Chardan Capital upped their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Zacks Research cut Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Robert W. Baird upped their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th.
Get Our Latest Report on Ocular Therapeutix
Ocular Therapeutix Price Performance
Insiders Place Their Bets
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 transaction, the insider owned 2,597,170 shares in the company, valued at $21,296,794. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. 3.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Ocular Therapeutix
Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ocular Therapeutix by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 5,156 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $248,000. Creative Planning increased its holdings in shares of Ocular Therapeutix by 21.5% during the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 3,791 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock worth $6,608,000 after purchasing an additional 374,269 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Ocular Therapeutix by 57.9% in the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 6,855 shares in 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 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.
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