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

Chardan Capital reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report issued on Friday morning,Benzinga reports. Chardan Capital currently has a $23.00 target price on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Robert W. Baird upped their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $6.96 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The firm has a market cap of $1.53 billion, a P/E ratio of -4.90 and a beta of 1.00. The business’s fifty day moving average is $9.80 and its two-hundred day moving average is $9.29. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. The business had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Equities research analysts forecast that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Kaiser sold 3,035 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $32,686.95. Following the transaction, the insider owned 264,378 shares of the company’s stock, valued at $2,847,351.06. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Heier sold 3,296 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the transaction, the insider owned 318,326 shares in the company, valued at approximately $3,431,554.28. This trade represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 29,877 shares of company stock valued at $321,827. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently modified their holdings of OCUL. BlackRock Inc. bought a new position in Ocular Therapeutix in the second quarter valued at approximately $190,278,000. Avoro Capital Advisors LLC lifted its stake in Ocular Therapeutix by 5.1% in the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after acquiring an additional 527,777 shares during the last quarter. Summer Road LLC grew its holdings in Ocular Therapeutix by 6.9% during the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after purchasing an additional 771,270 shares during the period. Octagon Capital Advisors LP raised its stake in Ocular Therapeutix by 20.7% in the first quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock valued at $26,821,000 after buying an additional 543,000 shares during the period. Finally, Commodore Capital LP acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at approximately $21,810,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.