Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) PT at $25.11

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.1111.

OCUL has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Finally, Robert W. Baird boosted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, 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. Insiders sold a total of 28,999 shares of company stock worth $237,792 in the last three months. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after buying an additional 771,065 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of Ocular Therapeutix in the third quarter worth approximately $2,360,000. Avoro Capital Advisors LLC lifted its stake in shares of Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after buying an additional 2,850,000 shares in the last quarter. Rhenman & Partners Asset Management AB purchased a new stake in shares of Ocular Therapeutix during the third quarter valued at approximately $2,361,000. Finally, Empire Life Investments Inc. grew its holdings in shares of Ocular Therapeutix by 115.0% during the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock valued at $6,557,000 after buying an additional 288,853 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Up 2.6%

NASDAQ:OCUL opened at $10.54 on Friday. The firm’s 50-day moving average price is $9.17 and its 200-day moving average price is $9.52. The company has a market capitalization of $2.31 billion, a PE ratio of -7.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. Ocular Therapeutix has a 1-year low of $6.23 and a 1-year high of $16.44.

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.