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

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a note issued to investors on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price target would suggest a potential upside of 125.71% from the company’s previous close.

OCUL has been the subject of several other reports. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Ocular Therapeutix in a research note on Wednesday. Robert W. Baird boosted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Finally, Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $10.19 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a market cap of $2.24 billion, a PE ratio of -7.18 and a beta of 0.97. The business has a 50 day moving average price of $9.90 and a 200-day moving average price of $9.36.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The company had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.39) EPS. Equities research analysts predict that Ocular Therapeutix will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the transaction, the insider owned 264,378 shares in the company, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing 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. Also, insider Jeffrey Heier sold 3,296 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the transaction, the insider owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. 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 three months, insiders have sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC increased its holdings in shares of Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,053 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Ocular Therapeutix in the 4th quarter worth about $31,000. Principal Financial Group Inc. boosted its stake in Ocular Therapeutix by 24.1% in the 1st quarter. Principal Financial Group Inc. now owns 13,623 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 2,642 shares in the last quarter. NewEdge Advisors LLC grew its position in Ocular Therapeutix by 21.7% during the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,979 shares during the last quarter. Finally, Union Bancaire Privee UBP SA increased its stake in Ocular Therapeutix by 13.6% during the 1st quarter. Union Bancaire Privee UBP SA now owns 25,000 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other 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 technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.