Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stock Has Average Price Target of $24.33 According to Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.86.

OCUL has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a report on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, September 16th.

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Insider Buying and Selling

In related news, insider Todd Anderman sold 11,984 shares of the company’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $7.29, for a total transaction of $87,363.36. Following the completion of the sale, the insider owned 140,484 shares of the company’s stock, valued at $1,024,128.36. This represents a 7.86% decrease in their ownership of the stock. 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 9,990 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $7.05, for a total transaction of $70,429.50. Following the sale, the insider owned 254,388 shares in the company, valued at $1,793,435.40. The trade was a 3.78% 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 a total of 62,720 shares of company stock worth $556,247 over the last three months. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in shares of Ocular Therapeutix during the 2nd quarter worth approximately $401,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ocular Therapeutix during the 2nd quarter worth approximately $51,000. NewEdge Advisors LLC boosted its position in shares of Ocular Therapeutix by 21.7% during 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 in the last quarter. Squarepoint Ops LLC increased its stake in Ocular Therapeutix by 44.4% in the second quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock valued at $13,904,000 after acquiring an additional 435,156 shares during the last quarter. Finally, Second Line Capital LLC increased its stake in Ocular Therapeutix by 20.9% in the second quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock valued at $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.

Ocular Therapeutix Trading Down 4.2%

NASDAQ OCUL opened at $7.24 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. Ocular Therapeutix has a 12-month low of $6.23 and a 12-month high of $16.44. The firm has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $9.25.

Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. During the same period last year, the firm earned ($0.39) earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Ocular Therapeutix will post -1.47 earnings per share for the current year.

About Ocular Therapeutix

(Get Free Report)

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.

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