Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $23.78 Consensus Target Price from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.7778.

OCUL has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 28,999 shares of company stock valued at $237,792 in the last 90 days. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently modified their holdings of OCUL. Millennium Management LLC grew its stake in shares of Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after acquiring an additional 3,736,560 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Ocular Therapeutix by 2,003.2% during the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after acquiring an additional 2,850,000 shares during the last quarter. Commodore Capital LP purchased a new stake in shares of Ocular Therapeutix during the first quarter worth about $21,810,000. Finally, Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after acquiring an additional 2,411,953 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

OCUL opened at $8.94 on Monday. The business’s 50-day moving average is $8.90 and its two-hundred day moving average is $10.01. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The firm has a market capitalization of $1.96 billion, a PE ratio of -6.12 and a beta of 0.89.

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.