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

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

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

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL traded up $0.11 during midday trading on Thursday, hitting $8.12. The company's stock had a trading volume of 1,662,741 shares, compared to its average volume of 1,401,622. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.15 and a beta of 1.51. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $7.37 and a 200 day moving average price of $7.90. Ocular Therapeutix has a one year low of $4.79 and a one year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its 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 net margin of 283.74% and a negative return on equity of 45.18%. The business had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. On average, research analysts forecast that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom acquired 10,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the acquisition, the director now owns 172,704 shares in the company, valued at $1,202,019.84. This represents a 6.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $152,352.42. Following the transaction, the insider now 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. Insiders have sold 29,079 shares of company stock worth $208,739 over the last ninety days. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Ocular Therapeutix by 8.1% in the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock worth $141,000 after acquiring an additional 1,472 shares during the period. MetLife Investment Management LLC grew its stake in shares of Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock valued at $792,000 after purchasing an additional 2,454 shares during the period. Teacher Retirement System of Texas increased its position in shares of Ocular Therapeutix by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 2,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ocular Therapeutix by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock valued at $755,000 after purchasing an additional 2,853 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Ocular Therapeutix by 151.5% in the 1st 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 during the period. 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.