Brokerages Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) PT at $23.78

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.7778.

Several equities research analysts have issued reports on the company. Chardan Capital restated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Wednesday, February 18th. Needham & Company LLC cut their price objective on Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, February 5th. HC Wainwright increased their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Ocular Therapeutix Trading Down 6.4%

Shares of NASDAQ OCUL opened at $7.55 on Wednesday. Ocular Therapeutix has a twelve month low of $5.80 and a twelve month high of $16.44. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -5.24 and a beta of 0.91. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $9.24 and its 200-day moving average is $11.11.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The business had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. Equities research analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 3,057 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total value of $25,311.96. Following the completion of the transaction, the insider directly owned 323,368 shares of the company’s stock, valued at approximately $2,677,487.04. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Md Lindstrom bought 60,229 shares of the stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $7.66 per share, with a total value of $461,354.14. Following the acquisition, the director owned 246,933 shares in the company, valued at approximately $1,891,506.78. This represents a 32.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 197,221 shares of company stock valued at $1,754,805 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OCUL. Rockefeller Capital Management L.P. acquired a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $31,000. Avoro Capital Advisors LLC boosted its position in Ocular Therapeutix by 5.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after acquiring an additional 527,777 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Ocular Therapeutix by 712.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,018 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 8,785 shares during the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $208,000. Finally, Virtu Financial LLC grew its stake in shares of Ocular Therapeutix by 470.2% during the 4th quarter. Virtu Financial LLC now owns 65,627 shares of the biopharmaceutical company’s stock worth $797,000 after acquiring an additional 54,117 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.