HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report released on Friday, Benzinga reports. HC Wainwright currently has a $16.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. Piper Sandler increased their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a research report on Monday, February 26th. Bank of America initiated coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a buy rating and a $15.00 target price for the company. Finally, JMP Securities reiterated a market outperform rating and issued a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix currently has a consensus rating of Moderate Buy and an average target price of $17.60.

Ocular Therapeutix Stock Down 10.9 %

NASDAQ:OCUL opened at $5.22 on Friday. The stock’s 50-day simple moving average is $8.76 and its 200 day simple moving average is $5.30. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The business had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. Equities analysts predict that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, CEO Antony C. Mattessich sold 18,338 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at $2,118,317.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ocular Therapeutix news, major shareholder Summer Road Llc bought 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony C. Mattessich sold 18,338 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the sale, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The disclosure for this sale can be found here. Insiders sold 39,366 shares of company stock worth $194,862 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in OCUL. Swiss National Bank grew its stake in Ocular Therapeutix by 7.6% during the first quarter. Swiss National Bank now owns 172,100 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 12,100 shares during the period. JPMorgan Chase & Co. grew its stake in Ocular Therapeutix by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 45,254 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 8,439 shares during the period. Bank of Montreal Can acquired a new stake in Ocular Therapeutix during the first quarter worth approximately $1,080,000. Panagora Asset Management Inc. grew its stake in Ocular Therapeutix by 184.0% in the first quarter. Panagora Asset Management Inc. now owns 85,424 shares of the biopharmaceutical company’s stock valued at $423,000 after acquiring an additional 55,346 shares during the period. Finally, Cetera Investment Advisers grew its stake in Ocular Therapeutix by 9.5% in the first quarter. Cetera Investment Advisers now owns 566,750 shares of the biopharmaceutical company’s stock valued at $2,805,000 after acquiring an additional 49,000 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.