Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $23.78 Consensus PT from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.7778.

OCUL has been the subject of several recent research reports. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Chardan Capital reiterated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Wednesday, February 18th. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th.

Ocular Therapeutix Trading Down 8.5%

NASDAQ OCUL opened at $8.38 on Thursday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -5.74 and a beta of 0.93. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44. The business has a 50 day moving average price of $8.95 and a 200-day moving average price of $10.39. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12.

Insider Activity

In other news, Director Richard L. Md Lindstrom acquired 60,229 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $7.66 per share, for a total transaction of $461,354.14. Following the purchase, the director owned 246,933 shares in the company, valued at approximately $1,891,506.78. This represents a 32.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nadia Waheed sold 3,510 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $7.74, for a total transaction of $27,167.40. Following the completion of the sale, the insider owned 314,907 shares of the company’s stock, valued at approximately $2,437,380.18. This trade represents a 1.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,192 shares of company stock valued at $256,374 in the last three months. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Summer Road LLC grew its stake in Ocular Therapeutix by 6.9% in the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock valued at $100,622,000 after purchasing an additional 771,270 shares during the period. Vanguard Group Inc. grew its stake in Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares during the period. Avoro Capital Advisors LLC grew its stake in Ocular Therapeutix by 5.1% in the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after purchasing an additional 527,777 shares during the period. TCG Crossover Management LLC grew its stake in Ocular Therapeutix by 15.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after purchasing an additional 798,084 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Ocular Therapeutix by 15.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock valued at $56,148,000 after purchasing an additional 620,700 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.