Ocular Therapeutix (NASDAQ:OCUL) Earns "Buy" Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL - Free Report) in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a $15.00 price target on the biopharmaceutical company's stock.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC lowered their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. William Blair initiated coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an "outperform" rating for the company. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

Ocular Therapeutix Stock Down 1.6%

OCUL stock traded down $0.13 during trading on Thursday, hitting $8.01. 2,177,691 shares of the company's stock traded hands, compared to its average volume of 1,399,863. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.07 and a beta of 1.51. The business has a fifty day simple moving average of $7.37 and a two-hundred day simple moving average of $7.91. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 1 year low of $4.79 and a 1 year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Sell-side analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard L. Md Lindstrom purchased 10,000 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.96 per share, with a total value of $69,600.00. Following the transaction, the director now owns 172,704 shares in the company, valued at $1,202,019.84. The trade was a 6.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.18, for a total value of $152,352.42. Following the sale, the insider now directly owns 3,499,099 shares of the company's stock, 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. In the last 90 days, insiders sold 29,079 shares of company stock valued at $208,739. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $1,722,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ocular Therapeutix by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,485 shares of the biopharmaceutical company's stock valued at $9,663,000 after buying an additional 21,025 shares during the last quarter. Barclays PLC raised its stake in shares of Ocular Therapeutix by 37.1% during the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company's stock valued at $4,451,000 after buying an additional 138,441 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Ocular Therapeutix by 32.8% during the 4th quarter. ProShare Advisors LLC now owns 51,270 shares of the biopharmaceutical company's stock valued at $438,000 after buying an additional 12,669 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Ocular Therapeutix by 2,045.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 8,446 shares during the last quarter. Hedge funds and other institutional investors 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.