Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Rating of "Buy" from Analysts

Key Points

• Ocular Therapeutix, Inc. has received a consensus rating of "Buy" from six research firms, with an average price target of $17.33.
• The company's shares opened at $11.92 and have a 52-week range of $5.78 to $12.35.
• Insider trades show mixed activity, with a director purchasing 10,000 shares at $6.96 while another insider sold 21,219 shares at an average price of $7.18.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has earned a consensus rating of "Buy" from the six research firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.33.

Several equities analysts recently issued reports on OCUL shares. William Blair initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a report on Thursday, May 29th. Finally, Needham & Company LLC cut their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th.

Ocular Therapeutix Stock Up 2.9%

Shares of NASDAQ OCUL opened at $11.92 on Monday. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 10.14 and a current ratio of 10.22. The business has a fifty day moving average of $9.71 and a two-hundred day moving average of $8.23. The stock has a market cap of $1.90 billion, a PE ratio of -10.37 and a beta of 1.49.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,219 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the transaction, the insider owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Md Lindstrom bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the transaction, the director owned 172,704 shares in the company, valued at $1,202,019.84. The trade was a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 29,079 shares of company stock valued at $208,739 in the last quarter. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the business. Deep Track Capital LP raised its position in Ocular Therapeutix by 0.9% during the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after purchasing an additional 114,822 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ocular Therapeutix by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after buying an additional 99,730 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock valued at $38,116,000 after acquiring an additional 1,600,000 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Ocular Therapeutix by 43.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock worth $25,073,000 after acquiring an additional 895,304 shares in the last quarter. Finally, Deltec Asset Management LLC boosted its stake in shares of Ocular Therapeutix by 2.9% in the 2nd quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company's stock valued at $25,937,000 after purchasing an additional 78,519 shares in the last quarter. Institutional investors own 59.21% of the company's stock.

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.

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