Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.80 Consensus Price Target from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has received a consensus recommendation of "Buy" from the five analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $16.80.

OCUL has been the topic of a number of research analyst reports. Bank of America began coverage on Ocular Therapeutix in a report on Friday, February 9th. They issued a "buy" rating and a $15.00 target price on the stock. JMP Securities reissued a "market outperform" rating and set a $24.00 price objective on shares of Ocular Therapeutix in a report on Tuesday. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. StockNews.com downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a report on Friday, April 5th. Finally, Piper Sandler lifted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Monday, February 26th.

Insiders Place Their Bets

In other news, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the transaction, the insider now directly owns 92,767 shares of the company's stock, valued at approximately $459,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Philip C. Strassburger sold 6,831 shares of the business's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $33,813.45. Following the completion of the sale, the general counsel now directly owns 109,218 shares of the company's stock, valued at approximately $540,629.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the business's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the sale, the insider now directly owns 92,767 shares of the company's stock, valued at $459,196.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ocular Therapeutix by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company's stock valued at $22,827,000 after purchasing an additional 1,057,123 shares during the last quarter. Trust Co. of Vermont boosted its stake in Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Virtu Financial LLC acquired a new position in Ocular Therapeutix during the 4th quarter valued at about $277,000. Price T Rowe Associates Inc. MD boosted its stake in Ocular Therapeutix by 31.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company's stock valued at $238,000 after purchasing an additional 12,859 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Ocular Therapeutix by 5.7% during the 4th quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company's stock valued at $1,101,000 after purchasing an additional 13,321 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Price Performance

Shares of OCUL stock traded down $0.01 during trading hours on Tuesday, reaching $7.79. The company's stock had a trading volume of 1,343,459 shares, compared to its average volume of 1,977,551. The firm's 50 day simple moving average is $8.63 and its 200-day simple moving average is $5.25. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.23 and a beta of 1.31. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). The firm had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. Sell-side analysts forecast that Ocular Therapeutix will post -0.68 earnings per share for the current year.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.