Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $25.11 Consensus Target Price from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $25.1111.

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research lowered Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a report on Tuesday, May 5th.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $8.17 on Tuesday. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $9.15 and a two-hundred day moving average price of $9.19. Ocular Therapeutix has a 1-year low of $6.23 and a 1-year high of $16.44. The company has a market cap of $1.79 billion, a P/E ratio of -5.60 and a beta of 0.88.

Insider Activity

In related news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 have sold 28,999 shares of company stock worth $237,792. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ocular Therapeutix by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock valued at $686,000 after buying an additional 5,156 shares during the period. Caxton Associates LLP acquired a new position in Ocular Therapeutix during the 1st quarter worth approximately $248,000. Creative Planning raised its stake in Ocular Therapeutix by 21.5% during the 2nd quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 3,791 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ocular Therapeutix by 110.8% in the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock worth $6,608,000 after acquiring an additional 374,269 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Ocular Therapeutix by 57.9% in the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 6,855 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

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.