Ocular Therapeutix, Inc. (OCUL) – What Are Investment Firms Saying About This Stock?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $22.86.

Several analysts have recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Chardan Capital restated a “buy” rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a research report on Friday, October 2nd. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Finally, Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $7.38 on Friday. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $9.60 and its 200-day simple moving average is $9.24. Ocular Therapeutix has a twelve month low of $6.23 and a twelve month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $13.47 million during the quarter, compared to analysts’ expectations of $13.20 million. During the same quarter last year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts forecast that Ocular Therapeutix will post -1.47 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,869 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $76,626.45. Following the transaction, the insider owned 307,457 shares in the company, valued at $2,167,571.85. This trade represents a 3.41% decrease in their ownership of the stock. 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. Also, insider Todd Anderman sold 11,984 shares of Ocular Therapeutix stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $7.29, for a total value of $87,363.36. Following the completion of the sale, the insider owned 140,484 shares of the company’s stock, valued at approximately $1,024,128.36. The trade was a 7.86% decrease in their ownership of the stock. 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 ninety days, insiders have sold 62,720 shares of company stock worth $556,247. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OCUL. BlackRock Inc. bought a new stake in shares of Ocular Therapeutix during the second quarter worth approximately $190,278,000. Commodore Capital LP bought a new position in Ocular Therapeutix in the first quarter valued at approximately $21,810,000. Readystate Asset Management LP bought a new position in Ocular Therapeutix in the first quarter valued at approximately $7,484,000. Defilade Capital Management L.P. grew its holdings in Ocular Therapeutix by 118.2% during the 1st quarter. Defilade Capital Management L.P. now owns 1,487,645 shares of the biopharmaceutical company’s stock worth $12,600,000 after acquiring an additional 805,982 shares during the period. Finally, Spruce Street Capital LP acquired a new stake in Ocular Therapeutix during the 4th quarter worth $9,518,000. Institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

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.