Ocular Therapeutix’s (OCUL) Buy Rating Reaffirmed at Chardan Capital

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a report released on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price objective indicates a potential upside of 173.81% from the company’s current price.

Other analysts have also recently issued reports about the company. Robert W. Baird raised their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Zacks Research cut Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix Trading Up 2.8%

NASDAQ:OCUL opened at $8.40 on Tuesday. The firm has a market capitalization of $1.84 billion, a P/E ratio of -5.75 and a beta of 0.93. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $9.15 and a 200 day moving average of $9.17. Ocular Therapeutix has a 52 week low of $6.23 and a 52 week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 558.24% and a negative return on equity of 64.28%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) earnings per share. On average, research analysts predict that Ocular Therapeutix will post -1.59 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction dated Tuesday, May 26th. The shares were 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 of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, 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. Over the last three months, insiders have sold 28,999 shares of company stock valued at $237,792. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently bought and sold shares of the stock. Summer Road LLC grew its holdings in shares of Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after acquiring an additional 771,270 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares during the period. Avoro Capital Advisors LLC lifted its stake in shares of Ocular Therapeutix by 5.1% in the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after purchasing an additional 527,777 shares during the period. TCG Crossover Management LLC boosted its position in shares of Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after purchasing an additional 798,084 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Ocular Therapeutix by 15.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock valued at $56,148,000 after purchasing an additional 620,700 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

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.