Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Rating of "Buy" by Brokerages

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.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have earned an average recommendation of "Buy" from the six research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $17.1667.

A number of equities analysts recently weighed in on OCUL shares. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Scotiabank cut their price target on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a report on Wednesday. Finally, Needham & Company LLC upped their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday.

Ocular Therapeutix Price Performance

NASDAQ:OCUL traded down $0.47 during trading hours on Monday, reaching $12.03. 1,358,205 shares of the company were exchanged, compared to its average volume of 1,778,646. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.92 billion, a PE ratio of -9.42 and a beta of 1.49. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $12.65. The stock's 50-day moving average is $10.00 and its 200-day moving average is $8.32.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.62% and a negative net margin of 382.51%. The firm's revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) EPS. On average, sell-side analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 29,079 shares of company stock worth $208,739. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of the business. Deep Track Capital LP lifted its holdings in shares of 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 worth $109,622,000 after purchasing an additional 114,822 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 holdings in Ocular Therapeutix by 44.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock worth $38,116,000 after acquiring an additional 1,600,000 shares during the period. Point72 Asset Management L.P. raised its position in Ocular Therapeutix by 43.9% in 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 lifted its holdings in Ocular Therapeutix by 2.9% in the second quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company's stock valued at $25,937,000 after acquiring an additional 78,519 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

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.