Ocular Therapeutix's (OCUL) Buy Rating Reaffirmed at Needham & Company LLC

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They currently have a $18.00 target price on the biopharmaceutical company's stock. Needham & Company LLC's target price suggests a potential upside of 134.99% from the company's current price.

Several other equities analysts also recently weighed in on OCUL. Chardan Capital reaffirmed a "buy" rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, September 16th. Robert W. Baird raised their price objective on shares of 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 upgraded shares of Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.75.

Ocular Therapeutix Stock Down 20.6%

NASDAQ:OCUL opened at $7.66 on Tuesday. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. The stock's fifty day moving average is $9.90 and its two-hundred day moving average is $9.33. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -5.39 and a beta of 0.97. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.20 million. During the same period in the previous year, the firm posted ($0.39) earnings per share. The company's revenue was down .1% on a year-over-year basis. Research analysts anticipate that Ocular Therapeutix will post -1.47 EPS for the current year.

Insider Buying and Selling

In related news, insider Peter Kaiser sold 3,035 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the sale, the insider directly owned 264,378 shares in the company, valued at approximately $2,847,351.06. This 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 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 Jeffrey Heier sold 3,296 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.78, for a total transaction of $35,530.88. Following the completion of the transaction, the insider owned 318,326 shares of the company's stock, valued at $3,431,554.28. This represents a 1.02% decrease in their position. 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. Over the last ninety days, insiders have sold 29,877 shares of company stock worth $321,827. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $31,000. Hilton Head Capital Partners LLC purchased a new position in Ocular Therapeutix in the fourth quarter valued at approximately $42,000. Integrated Wealth Concepts LLC acquired a new stake in Ocular Therapeutix during the second quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Ocular Therapeutix by 420.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company's stock worth $78,000 after buying an additional 5,179 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at $112,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

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 technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.