Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $17.33 Average Price Target from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has been assigned an average rating of "Buy" from the six research firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.33.

A number of brokerages have recently weighed in on OCUL. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Thursday, May 29th. William Blair assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating for the company. Needham & Company LLC cut their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price for the company.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL traded down $0.05 during trading on Thursday, reaching $11.03. The company had a trading volume of 2,132,512 shares, compared to its average volume of 1,432,918. The firm's fifty day moving average is $8.40 and its 200 day moving average is $7.91. The firm has a market capitalization of $1.76 billion, a PE ratio of -9.59 and a beta of 1.43. Ocular Therapeutix has a twelve month low of $5.79 and a twelve month high of $11.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 10.14 and a current ratio of 10.22.

Insider Buying and Selling

In other news, Director Richard L. Md Lindstrom purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were acquired 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 directly owned 172,704 shares of the company's stock, valued at $1,202,019.84. The trade was a 6.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pravin Dugel sold 21,219 shares of the business'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 sale, the insider owned 3,499,099 shares in the company, valued at $25,123,530.82. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,079 shares of company stock worth $208,739 in the last 90 days. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently made changes to their positions in the company. Deep Track Capital LP increased its stake in Ocular Therapeutix by 0.9% in the 4th quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after buying an additional 114,822 shares during the period. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 1.2% in the 4th 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 period. Adage Capital Partners GP L.L.C. increased its stake in 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 buying an additional 1,600,000 shares during the period. Point72 Asset Management L.P. increased its stake in 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 during the period. Finally, Deltec Asset Management LLC increased its stake in 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 valued at $19,911,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 59.21% of the company's stock.

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.