Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.25.

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

Insiders Place Their Bets

In related news, Director Richard L. Md Lindstrom bought 10,000 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the acquisition, the director now directly owns 172,704 shares in the company, valued at approximately $1,202,019.84. This represents a 6.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Deep Track Capital LP boosted 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. lifted its position in shares of Ocular Therapeutix by 1.2% during 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 during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of 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 valued at $38,116,000 after buying an additional 1,600,000 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after buying an additional 895,304 shares in the last quarter. Finally, Deltec Asset Management LLC grew its position in shares of Ocular Therapeutix by 3.8% in the 1st quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock worth $19,911,000 after buying an additional 100,000 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Trading Up 1.1%

Shares of NASDAQ:OCUL traded up $0.08 during trading on Wednesday, hitting $7.30. The company had a trading volume of 1,627,989 shares, compared to its average volume of 1,399,260. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -5.53 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a fifty day simple moving average of $7.35 and a two-hundred day simple moving average of $7.98. Ocular Therapeutix has a one year low of $4.79 and a one year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. As a group, equities analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current year.

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.