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

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.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.