Ocular Therapeutix (NASDAQ:OCUL) Price Target Raised to $15.00

Key Points

• Ocular Therapeutix's price target was raised by Needham & Company LLC from $14.00 to $15.00, indicating a potential upside of 25.00% from the previous close.
• The company reported a loss of ($0.39) earnings per share, missing analyst estimates, while revenue for the quarter was $13.46 million, exceeding expectations.
• Insider transactions included Director Richard L. Md Lindstrom buying 10,000 shares at an average price of $6.96 per share, which increased his ownership in the company.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) had its price target raised by research analysts at Needham & Company LLC from $14.00 to $15.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Needham & Company LLC's target price suggests a potential upside of 25.00% from the stock's previous close.

Several other research analysts also recently commented on OCUL. HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report 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 on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $17.50.

Ocular Therapeutix Trading Down 2.8%

Ocular Therapeutix stock opened at $12.00 on Tuesday. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $12.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 10.14 and a current ratio of 10.22. The stock has a market capitalization of $1.91 billion, a P/E ratio of -10.43 and a beta of 1.49. The stock has a 50-day simple moving average of $9.91 and a 200 day simple moving average of $8.29.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative return on equity of 59.92% and a negative net margin of 323.09%. The company's revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) earnings per share. Analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom bought 10,000 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $6.96 per share, with a total value of $69,600.00. Following the acquisition, the director owned 172,704 shares in the company, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,219 shares of the stock in a transaction 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 transaction, the insider directly 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 have sold a total of 29,079 shares of company stock valued at $208,739 over the last three months. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently added to or reduced their stakes in OCUL. GF Fund Management CO. LTD. purchased a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC increased its stake in shares of Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 1,392 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 893 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 8,112 shares during the last quarter. Institutional investors own 59.21% of the company's stock.

About Ocular Therapeutix

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.

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