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

Key Points

• Analyst sentiment is cautiously positive: Ocular Therapeutix has a consensus “Moderate Buy” rating from 11 analysts, with nine buys, one hold and one sell. The average 12-month price target is $24.33, well above the reported share price of $7.54.
• Recent financial results modestly exceeded expectations: The company reported a quarterly loss of $0.35 per share versus the $0.40 expected loss and revenue of $13.47 million, slightly ahead of forecasts. However, it remains unprofitable, with a negative net margin of 579.10%.
• Institutional ownership is substantial, while insiders have sold shares: Hedge funds and other institutions own 59.21% of the stock, with several investors increasing their positions. Insiders sold 50,736 shares worth approximately $468,883 over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $24.33.

OCUL has been the topic of several analyst reports. Zacks Research upgraded Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Wall Street Zen raised shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Robert W. Baird upped their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 18th.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $7.54 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $9.25. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -5.31 and a beta of 1.00.

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

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,869 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $7.05, for a total value of $76,626.45. Following the completion of the sale, the insider owned 307,457 shares in the company, valued at $2,167,571.85. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Pravin Dugel sold 21,649 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $233,159.73. Following the completion of the sale, the insider directly owned 2,525,429 shares in the company, valued at $27,198,870.33. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. 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 50,736 shares of company stock worth $468,883 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at about $401,000. Integrated Wealth Concepts LLC acquired a new position in Ocular Therapeutix during the second quarter worth about $51,000. NewEdge Advisors LLC increased its holdings in Ocular Therapeutix by 21.7% in the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company's stock valued at $164,000 after buying an additional 2,979 shares in the last quarter. Squarepoint Ops LLC increased its holdings 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 buying an additional 435,156 shares in the last quarter. Finally, Second Line Capital LLC lifted its position in shares of Ocular Therapeutix by 20.9% during the 2nd 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 period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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 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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