Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has received an average rating of "Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.33.
A number of equities analysts recently weighed in on the company. Needham & Company LLC dropped their price target on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. William Blair began coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an "outperform" rating on the stock. Royal Bank Of Canada started coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, May 29th.
Check Out Our Latest Analysis on OCUL
Ocular Therapeutix Stock Performance
OCUL opened at $10.76 on Thursday. The company has a quick ratio of 10.14, a current ratio of 10.22 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.71 billion, a PE ratio of -9.36 and a beta of 1.43. The business has a fifty day simple moving average of $8.31 and a 200-day simple moving average of $7.87. Ocular Therapeutix has a fifty-two week low of $5.79 and a fifty-two week high of $11.78.
Insider Buying and Selling
In related news, Director Richard L. Md Lindstrom acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the completion of the transaction, the director owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the transaction, the insider owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,079 shares of company stock valued at $208,739 over the last three months. 2.30% of the stock is owned by insiders.
Hedge Funds Weigh In On Ocular Therapeutix
A number of hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. lifted its stake in shares of Ocular Therapeutix by 44.4% in the 1st 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 purchasing an additional 1,600,000 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Ocular Therapeutix during the 1st quarter valued at about $9,632,000. Point72 Asset Management L.P. raised its stake 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 acquiring an additional 895,304 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Ocular Therapeutix in the 1st quarter worth approximately $6,212,000. Finally, Millennium Management LLC acquired a new stake in Ocular Therapeutix in the 4th quarter worth approximately $3,819,000. 59.21% of the stock is owned by institutional investors and hedge funds.
Ocular Therapeutix Company Profile
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Get Free ReportOcular 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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