Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Price Target at $25.75

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.75.

A number of equities analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,649 shares of Ocular Therapeutix stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $233,159.73. Following the completion of the sale, the insider owned 2,525,429 shares of the company’s stock, valued at $27,198,870.33. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Peter Kaiser sold 3,035 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $32,686.95. Following the completion of the transaction, the insider directly owned 264,378 shares in the company, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders have sold 29,877 shares of company stock worth $321,827. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Steward Partners Investment Advisory LLC grew its holdings in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth $31,000. Hilton Head Capital Partners LLC raised its position in shares of Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix in the 4th quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Ocular Therapeutix by 420.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 5,179 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Trading Down 1.0%

Shares of OCUL opened at $10.77 on Friday. The business’s 50-day moving average price is $9.63 and its 200-day moving average price is $9.15. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. Ocular Therapeutix has a twelve month low of $6.23 and a twelve month high of $16.44. The stock has a market cap of $2.37 billion, a PE ratio of -7.58 and a beta of 0.93.

Ocular Therapeutix (NASDAQ:OCUL) last announced its 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. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that Ocular Therapeutix will post -1.47 EPS for the current fiscal year.

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.