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

Key Points

• Ocular Therapeutix, Inc. has a consensus rating of "Moderate Buy" from twelve brokerages, with ten analysts recommending a buy, one a hold, and one a sell.
• The firm has a market cap of $2 billion and recently reported earnings of ($0.39) per share, which missed analysts' expectations by $0.04.
• Insider transactions saw Jeffrey S. Heier and Peter Kaiser each selling over 10,000 shares, reflecting a decrease in their ownership of the stock.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $22.6250.

A number of equities analysts have weighed in on OCUL shares. Chardan Capital restated a "buy" rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Thursday, October 2nd. JMP Securities upped their target price on Ocular Therapeutix from $20.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Saturday. Zacks Research upgraded Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a report on Thursday, October 2nd. Finally, Piper Sandler upped their price objective on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $11.49 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -8.98 and a beta of 1.45. The business's fifty day moving average is $12.14 and its 200 day moving average is $10.22.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). The business had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.Ocular Therapeutix's revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.26) earnings per share. Research analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the sale, the insider directly owned 249,409 shares in the company, valued at $2,753,475.36. This represents a 4.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Kaiser sold 9,653 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total value of $106,472.59. Following the sale, the insider owned 194,440 shares of the company's stock, valued at $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,806 shares of company stock valued at $727,648 over the last quarter. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of OCUL. SG Americas Securities LLC raised its position in Ocular Therapeutix by 431.8% during the 3rd quarter. SG Americas Securities LLC now owns 55,496 shares of the biopharmaceutical company's stock valued at $649,000 after purchasing an additional 45,061 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Ocular Therapeutix during the 3rd quarter valued at approximately $298,000. Osaic Holdings Inc. raised its position in Ocular Therapeutix by 19,194.3% during the 2nd quarter. Osaic Holdings Inc. now owns 67,530 shares of the biopharmaceutical company's stock valued at $627,000 after purchasing an additional 67,180 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Ocular Therapeutix by 96.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 61,995 shares of the biopharmaceutical company's stock valued at $575,000 after purchasing an additional 30,460 shares during the last quarter. Finally, Marex Group plc bought a new position in Ocular Therapeutix during the 2nd quarter valued at approximately $115,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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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