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

Key Points

• Ocular Therapeutix has a “Moderate Buy” consensus rating from 14 analysts, with 12 buy ratings and two sell ratings. The average 12-month price target is $25.11, well above the stock’s reported opening price of $8.64.
• Recent analyst views were mixed: HC Wainwright and Robert W. Baird raised their price targets to $25 and $30, respectively, while Weiss Ratings maintained a sell rating and Zacks Research downgraded the stock to “strong sell.”
• Institutional ownership stands at 59.21%, with several investment firms increasing their positions during the first and second quarters. Insider selling totaled 28,999 shares worth about $237,792 over the past 90 days, primarily involving a tax-withholding transaction under a Rule 10b5-1 plan.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has earned an average rating of "Moderate Buy" from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $25.1111.

OCUL has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Zacks Research lowered shares of Ocular Therapeutix from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. HC Wainwright restated a "buy" rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Finally, Robert W. Baird upped their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th.

Ocular Therapeutix Trading Up 1.5%

Shares of NASDAQ OCUL opened at $8.64 on Tuesday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -5.92 and a beta of 0.88. The business has a 50 day simple moving average of $9.13 and a 200 day simple moving average of $9.26. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,999 shares of company stock valued at $237,792 over the last ninety days. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OCUL. E. Ohman J or Asset Management AB lifted its holdings in Ocular Therapeutix by 28.3% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 385,000 shares of the biopharmaceutical company's stock worth $3,781,000 after purchasing an additional 85,000 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Ocular Therapeutix by 24.7% during the second quarter. Handelsbanken Fonder AB now owns 86,400 shares of the biopharmaceutical company's stock valued at $848,000 after purchasing an additional 17,100 shares during the last quarter. Defilade Capital Management L.P. raised its position in shares of Ocular Therapeutix by 118.2% in the first quarter. Defilade Capital Management L.P. now owns 1,487,645 shares of the biopharmaceutical company's stock valued at $12,600,000 after purchasing an additional 805,982 shares during the period. Seven Fleet Capital Management LP raised its position in shares of Ocular Therapeutix by 83.0% in the first quarter. Seven Fleet Capital Management LP now owns 31,296 shares of the biopharmaceutical company's stock valued at $265,000 after purchasing an additional 14,196 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Ocular Therapeutix by 1,274.6% in the first quarter. NewEdge Advisors LLC now owns 13,746 shares of the biopharmaceutical company's stock worth $116,000 after buying an additional 12,746 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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