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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.71.

A number of equities research analysts have recently weighed in on OCUL shares. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday. Robert W. Baird lowered their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Scotiabank assumed coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $9.49 on Wednesday. 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 company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.19 and a beta of 1.19. Ocular Therapeutix has a twelve month low of $2.88 and a twelve month high of $11.77. The business has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $8.33.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares in the company, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC grew its holdings in Ocular Therapeutix by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after buying an additional 1,168 shares during the last quarter. Amalgamated Bank increased its position in Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,481 shares during the period. HighVista Strategies LLC raised its stake in Ocular Therapeutix by 5.1% during the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 3,168 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Ocular Therapeutix by 36.9% in the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 4,695 shares during the period. 59.21% of the stock is owned by institutional investors.

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.