Chardan Capital Issues Positive Forecast for Ocular Therapeutix (NASDAQ:OCUL) Stock Price

Ocular Therapeutix (NASDAQ:OCUL) had its price target lifted by Chardan Capital from $21.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price indicates a potential upside of 131.04% from the stock’s previous close.

A number of other brokerages have also recently commented on OCUL. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. William Blair reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Finally, Robert W. Baird increased their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix Trading Up 1.1%

Shares of OCUL stock opened at $9.96 on Thursday. The stock has a market cap of $2.18 billion, a P/E ratio of -6.83 and a beta of 0.89. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. 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 stock has a 50 day simple moving average of $9.05 and a 200 day simple moving average of $9.86.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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. Over the last quarter, insiders have sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its stake in Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth about $31,000. Hilton Head Capital Partners LLC purchased a new stake in Ocular Therapeutix during the fourth quarter worth about $42,000. Atlas Capital Advisors Inc. purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $61,000. Finally, State of Wyoming bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $78,000. 59.21% of the stock is currently 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.