Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Thirteen analysts give Ocular Therapeutix an average “Moderate Buy” rating, with 11 buys, one hold and one sell. The average 12-month price target is $25.75, above the reported $11.08 share price.
• Institutional ownership increased: Several investment firms expanded their positions, including Octagon Capital Advisors and The Manufacturers Life Insurance Company. Institutional investors now own 59.21% of the company.
• Quarterly results modestly exceeded expectations: Ocular Therapeutix reported a quarterly loss of $0.35 per share versus the $0.40 consensus loss estimate, while revenue of $13.47 million slightly topped forecasts. The company remains unprofitable, with a negative net margin of 579.10%.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $25.75.

A number of equities analysts have recently commented on OCUL shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Chardan Capital restated a "buy" rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Finally, Robert W. Baird lifted their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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. Insiders sold 28,999 shares of company stock worth $237,792 in the last ninety days. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new position in Ocular Therapeutix during the first quarter worth $5,491,000. Empire Life Investments Inc. lifted its holdings in Ocular Therapeutix by 115.0% in the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company's stock valued at $6,557,000 after buying an additional 288,853 shares during the period. The Manufacturers Life Insurance Company boosted its position in Ocular Therapeutix by 145.9% during the first quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company's stock valued at $1,930,000 after acquiring an additional 135,160 shares during the last quarter. Candriam S.C.A. boosted its position in Ocular Therapeutix by 12.8% during the first quarter. Candriam S.C.A. now owns 949,216 shares of the biopharmaceutical company's stock valued at $8,040,000 after acquiring an additional 107,614 shares during the last quarter. Finally, Octagon Capital Advisors LP grew its holdings in Ocular Therapeutix by 20.7% during the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company's stock worth $26,821,000 after acquiring an additional 543,000 shares during the period. Institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock opened at $11.08 on Friday. The business has a 50 day moving average of $9.54 and a 200-day moving average of $9.10. The company has a market capitalization of $2.43 billion, a P/E ratio of -7.80 and a beta of 0.93. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. 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 (NASDAQ:OCUL - Get Free Report) last posted 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 business had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same period last year, the company earned ($0.39) EPS. The firm's revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that Ocular Therapeutix will post -1.47 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source