Ocular Therapeutix’s (OCUL) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $21.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on OCUL. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Ocular Therapeutix in a research note on Monday, December 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $7.78 on Wednesday. The company has a market cap of $1.69 billion, a P/E ratio of -5.40 and a beta of 0.90. 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 has a one year low of $5.78 and a one year high of $16.44. The business’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $11.68.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The firm had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $16.13 million. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.Ocular Therapeutix’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS. On average, sell-side analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, insider Nadia Waheed sold 7,863 shares of the business’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 value of $71,081.52. Following the completion of the sale, the insider directly owned 318,417 shares in the company, valued at approximately $2,878,489.68. The trade was a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 124,882 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $1,128,933.28. Following the sale, the insider directly owned 3,033,078 shares in the company, valued at approximately $27,419,025.12. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 166,029 shares of company stock valued at $1,498,430 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its holdings in shares of 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 worth $27,000 after purchasing an additional 1,242 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,392 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $42,000. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix in the fourth quarter worth about $61,000. Finally, KBC Group NV acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $78,000. Institutional investors and hedge funds 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.