Ocular Therapeutix’s (OCUL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $21.00 price target on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on the company. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Needham & Company LLC decreased their target price on Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Ocular Therapeutix Trading Up 1.7%

Shares of Ocular Therapeutix stock opened at $8.91 on Monday. Ocular Therapeutix has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.94 billion, a PE ratio of -6.19 and a beta of 0.95. The company has a 50-day moving average of $8.80 and a two-hundred day moving average of $10.73.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The company had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the company posted ($0.29) earnings per share. On average, research analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, insider Sanjay Nayak sold 10,348 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the transaction, the insider directly owned 332,412 shares in the company, valued at approximately $3,005,004.48. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nadia Waheed sold 7,863 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $71,081.52. Following the completion of the transaction, the insider owned 318,417 shares of the company’s stock, valued at $2,878,489.68. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 197,221 shares of company stock valued at $1,754,805. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in OCUL. Citigroup Inc. grew its position in Ocular Therapeutix by 574.4% during the third quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company’s stock valued at $7,871,000 after acquiring an additional 573,504 shares during the period. Vanguard Group Inc. grew its position in Ocular Therapeutix by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after acquiring an additional 771,065 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in Ocular Therapeutix during the third quarter valued at about $2,360,000. Avoro Capital Advisors LLC grew its position in Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after acquiring an additional 2,850,000 shares during the period. Finally, Rhenman & Partners Asset Management AB purchased a new stake in Ocular Therapeutix during the third quarter valued at about $2,361,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.