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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $16.25.

Several analysts have recently weighed in on OCUL shares. William Blair started coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating on the stock. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Needham & Company LLC decreased their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective for the company.

Insider Transactions at Ocular Therapeutix

In related news, Director Richard L. Md Lindstrom purchased 10,000 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the transaction, the director now directly owns 172,704 shares of the company's stock, valued at $1,202,019.84. This represents a 6.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,219 shares of the 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 completion of the transaction, the insider now directly owns 3,499,099 shares of the company's stock, valued at approximately $25,123,530.82. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,079 shares of company stock worth $208,739. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. Raymond James Financial Inc. bought a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $1,722,000. Charles Schwab Investment Management Inc. grew its position in shares of Ocular Therapeutix by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,485 shares of the biopharmaceutical company's stock worth $9,663,000 after buying an additional 21,025 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Ocular Therapeutix by 82.9% in the 4th quarter. Ameriprise Financial Inc. now owns 89,772 shares of the biopharmaceutical company's stock worth $767,000 after acquiring an additional 40,700 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Ocular Therapeutix by 32.8% in the 4th quarter. ProShare Advisors LLC now owns 51,270 shares of the biopharmaceutical company's stock worth $438,000 after acquiring an additional 12,669 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Ocular Therapeutix by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 252,939 shares of the biopharmaceutical company's stock valued at $2,160,000 after acquiring an additional 45,518 shares during the period. Hedge funds and other institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Price Performance

OCUL stock opened at $8.73 on Friday. The firm has a 50 day moving average of $7.70 and a 200-day moving average of $7.88. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.39 billion, a P/E ratio of -6.61 and a beta of 1.42. Ocular Therapeutix has a 12 month low of $5.34 and a 12 month high of $11.78.

Ocular Therapeutix Company Profile

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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