Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Price Target at $17.20

Key Points

• Ocular Therapeutix, Inc. has received an average rating of "Buy" from five brokerages with a one-year price target of $17.20.
• The company reported a quarterly earnings loss of ($0.39) per share, which missed analysts' expectations, despite revenue of $13.46 million for the quarter.
• Insider transactions showed notable activity, with Pravin Dugel selling 21,494 shares, reducing their ownership by 0.66%.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have been assigned a consensus rating of "Buy" from the five research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.20.

A number of research firms have recently weighed in on OCUL. Scotiabank cut their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a report on Wednesday, August 6th. Needham & Company LLC raised their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Thursday, May 29th.

Insiders Place Their Bets

In related news, insider Peter Kaiser sold 3,011 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,252.44. Following the completion of the sale, the insider directly owned 204,093 shares of the company's stock, valued at approximately $2,457,279.72. This represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Heier sold 3,063 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,878.52. Following the completion of the transaction, the insider owned 259,911 shares in the company, valued at $3,129,328.44. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,519 shares of company stock valued at $367,865 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 8,446 shares during the period. Hsbc Holdings PLC boosted its stake in Ocular Therapeutix by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 18,101 shares of the biopharmaceutical company's stock valued at $152,000 after purchasing an additional 5,853 shares during the period. Northern Trust Corp grew its holdings in Ocular Therapeutix by 5.5% in the 4th quarter. Northern Trust Corp now owns 1,314,871 shares of the biopharmaceutical company's stock valued at $11,229,000 after buying an additional 68,174 shares during the last quarter. Ameriprise Financial Inc. increased its position in 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 buying an additional 40,700 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Ocular Therapeutix by 110.6% during the fourth quarter. BNP Paribas Financial Markets now owns 75,400 shares of the biopharmaceutical company's stock worth $644,000 after buying an additional 39,599 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Stock Down 2.1%

Shares of NASDAQ OCUL traded down $0.28 during trading hours on Friday, hitting $12.77. The stock had a trading volume of 1,246,193 shares, compared to its average volume of 2,136,922. The firm's 50-day moving average price is $11.96 and its two-hundred day moving average price is $9.19. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $13.85. The company has a market capitalization of $2.22 billion, a P/E ratio of -9.98 and a beta of 1.50. 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 (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Ocular Therapeutix's revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) EPS. Analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

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.