Ocular Therapeutix’s (OCUL) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Tuesday,Benzinga reports. They currently have a $21.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on OCUL. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. HC Wainwright upped their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. TD Cowen lifted their target price on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler upped their target price on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $14.67 on Tuesday. The company has a 50 day simple moving average of $11.95 and a two-hundred day simple moving average of $11.30. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $16.44. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -10.19 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%.The firm had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Analysts expect that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, insider Peter Kaiser sold 9,653 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares of the company’s stock, valued at $2,144,673.20. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Anderman sold 11,132 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the sale, the insider owned 87,568 shares in the company, valued at $1,080,589.12. This represents a 11.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,287 shares of company stock worth $359,784 over the last three months. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd boosted its position in Ocular Therapeutix by 95.0% in the first quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company’s stock worth $166,000 after purchasing an additional 11,012 shares during the last quarter. Nuveen LLC purchased a new position in shares of Ocular Therapeutix in the first quarter worth approximately $3,035,000. Algert Global LLC purchased a new position in shares of Ocular Therapeutix in the first quarter worth approximately $213,000. Brooklyn Investment Group grew its position in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 3,155 shares during the period. Finally, Aptus Capital Advisors LLC increased its holdings in Ocular Therapeutix by 1.9% during the first quarter. Aptus Capital Advisors LLC now owns 346,098 shares of the biopharmaceutical company’s stock valued at $2,537,000 after buying an additional 6,348 shares during the last quarter. Hedge funds and other 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.