Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stock Has Consensus Price Target of $23.33

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.83.

A number of research firms have weighed in on OCUL. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Chardan Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, October 15th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research report on Monday, October 19th. Finally, UBS Group started coverage on shares of Ocular Therapeutix in a research note on Sunday, October 11th. They issued a “buy” rating and a $14.00 target price for the company.

Insider Activity

In other Ocular Therapeutix news, insider Namrata Saroj sold 35,370 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $6.55, for a total value of $231,673.50. Following the transaction, the insider owned 220,522 shares in the company, valued at $1,444,419.10. The trade was a 13.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Pravin Dugel sold 21,649 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold a total of 98,090 shares of company stock worth $787,920 over the last three months. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Ocular Therapeutix in the fourth quarter worth about $31,000. Integrated Wealth Concepts LLC purchased a new position in Ocular Therapeutix in the second quarter valued at about $51,000. Sterling Capital Management LLC boosted its holdings in Ocular Therapeutix by 401.7% in the third quarter. Sterling Capital Management LLC now owns 6,612 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 5,294 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Ocular Therapeutix during the 3rd quarter valued at approximately $66,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ocular Therapeutix during the 3rd quarter valued at approximately $86,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Trading Up 0.8%

Shares of NASDAQ OCUL opened at $6.66 on Thursday. Ocular Therapeutix has a 1-year low of $6.00 and a 1-year high of $16.44. The business has a 50-day moving average of $8.17 and a 200-day moving average of $8.96. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, November 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The company had revenue of $12.87 million during the quarter, compared to analyst estimates of $14.27 million. Ocular Therapeutix had a negative net margin of 648.64% and a negative return on equity of 56.26%. Ocular Therapeutix’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) EPS. As a group, equities analysts anticipate that Ocular Therapeutix will post -1.49 EPS for the current year.

About Ocular Therapeutix

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on developing and commercializing treatments for eye diseases and conditions. Based in Bedford, Massachusetts, the company uses its proprietary hydrogel-based technology to deliver medicines to the eye over time. Its marketed product, DEXTENZA, is a corticosteroid insert placed in the tear duct by an eye-care professional to treat inflammation and pain following ophthalmic surgery. Ocular Therapeutix also develops investigational therapies for retinal diseases and other eye conditions, including treatments designed for sustained drug delivery.