Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.7778.

A number of equities research analysts have recently weighed in on OCUL shares. HC Wainwright boosted their price target on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, December 8th. Jefferies Financial Group restated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a report on Thursday, February 5th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Chardan Capital reissued a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a report on Wednesday, February 18th.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Sanjay Nayak sold 10,348 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $93,545.92. Following the completion of the transaction, the insider directly owned 332,412 shares of the company’s stock, valued at approximately $3,005,004.48. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pravin Dugel sold 20,056 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $8.28, for a total value of $166,063.68. Following the sale, the insider owned 3,013,022 shares in the company, valued at $24,947,822.16. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 197,221 shares of company stock worth $1,754,805. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after acquiring an additional 3,736,560 shares during the period. Alliancebernstein L.P. lifted its position in Ocular Therapeutix by 2,003.2% in the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after purchasing an additional 3,261,619 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after purchasing an additional 2,850,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ocular Therapeutix by 26.3% during 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. Finally, Janus Henderson Group PLC boosted its stake in Ocular Therapeutix by 106.5% during the 4th quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after purchasing an additional 2,180,702 shares during the period. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $8.47 on Wednesday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.88 and a beta of 0.91. Ocular Therapeutix has a one year low of $5.80 and a one year high of $16.44. The company’s 50-day simple moving average is $9.11 and its 200-day simple moving average is $11.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The firm had revenue of $13.25 million during the quarter, compared to analyst estimates of $16.13 million. During the same period in the previous year, the company earned ($0.29) earnings per share. Ocular Therapeutix’s quarterly revenue was down 22.4% on a year-over-year basis. Equities analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

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.