Ocular Therapeutix’s (OCUL) “Buy” Rating Reaffirmed at Needham & Company LLC

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $18.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 130.33% from the company’s previous close.

Several other research analysts have also recently issued reports on OCUL. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Ocular Therapeutix in a report on Wednesday, September 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Robert W. Baird increased their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Ocular Therapeutix Trading Down 0.7%

Shares of NASDAQ OCUL traded down $0.06 during mid-day trading on Tuesday, reaching $7.82. The company had a trading volume of 1,647,523 shares, compared to its average volume of 3,972,649. The business’s 50-day moving average is $9.88 and its 200-day moving average is $9.32. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -5.50 and a beta of 0.97. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.48 million for the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.39) earnings per share. Equities analysts expect 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 stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the completion of the sale, the insider directly owned 264,378 shares of the company’s stock, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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. Also, insider Pravin Dugel sold 21,649 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the sale, the insider directly owned 2,525,429 shares of the company’s stock, valued at approximately $27,198,870.33. The trade was a 0.85% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently modified their holdings of OCUL. Rockefeller Capital Management L.P. purchased a new stake in shares of Ocular Therapeutix during the fourth quarter valued at about $31,000. Hilton Head Capital Partners LLC lifted its position 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 buying an additional 1,053 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Ocular Therapeutix in the 2nd quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd raised its position in shares of Ocular Therapeutix by 420.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 5,179 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Ocular Therapeutix in the 1st quarter valued at approximately $98,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.