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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.00.

OCUL has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, December 9th. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Finally, HC Wainwright lifted their price target on Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, December 8th.

Insider Activity at Ocular Therapeutix

In related news, COO Donald Notman sold 6,035 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $8.54, for a total value of $51,538.90. Following the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $3,226,429.08. The trade was a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OCUL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 5,156 shares during the last quarter. Caxton Associates LLP bought a new position in Ocular Therapeutix during the first quarter valued at $248,000. Truist Financial Corp increased its position in Ocular Therapeutix by 100.0% in the second quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 50,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 893 shares during the period. Finally, Simplicity Wealth LLC lifted its position in shares of Ocular Therapeutix by 44.1% during the 2nd quarter. Simplicity Wealth LLC now owns 40,332 shares of the biopharmaceutical company’s stock valued at $374,000 after buying an additional 12,345 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $9.58 on Tuesday. The firm has a market capitalization of $2.08 billion, a P/E ratio of -6.70 and a beta of 0.90. Ocular Therapeutix has a 52 week low of $5.78 and a 52 week high of $16.44. The stock has a 50 day moving average price of $11.77 and a two-hundred day moving average price of $11.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39.

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

Ocular Therapeutix Company Profile

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.