Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $25.75 Average PT from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.75.

Several equities analysts have recently commented on the company. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research report on Wednesday. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Robert W. Baird raised their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,649 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider directly owned 2,525,429 shares in the company, valued at $27,198,870.33. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Peter Kaiser sold 3,035 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $32,686.95. Following the sale, the insider owned 264,378 shares of the company’s stock, valued at $2,847,351.06. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 29,877 shares of company stock valued at $321,827 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in OCUL. Engineers Gate Manager LP bought a new position in shares of Ocular Therapeutix in the 2nd quarter valued at $401,000. Integrated Wealth Concepts LLC bought a new position in Ocular Therapeutix in the second quarter valued at about $51,000. NewEdge Advisors LLC boosted its stake in shares of Ocular Therapeutix by 21.7% during the second 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 in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Ocular Therapeutix by 44.4% during the second quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after purchasing an additional 435,156 shares during the last quarter. Finally, Second Line Capital LLC increased its stake in shares of Ocular Therapeutix by 20.9% in the second quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock valued at $6,271,000 after buying an additional 110,350 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $9.99 on Wednesday. The stock has a 50 day simple moving average of $9.88 and a 200 day simple moving average of $9.38. 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 52-week low of $6.23 and a 52-week high of $16.44. The firm has a market capitalization of $2.19 billion, a PE ratio of -7.04 and a beta of 0.97.

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

Ocular Therapeutix Company Profile

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.