Brokerages Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Target Price at $16.38

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.38.

OCUL has been the topic of several research analyst reports. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Needham & Company LLC assumed coverage on Ocular Therapeutix in a report on Tuesday, March 11th. They set a “buy” rating and a $15.00 target price on the stock.

Insider Activity

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now directly owns 204,563 shares in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the sale, the insider now owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,895 shares of company stock valued at $283,772. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in Ocular Therapeutix during the 4th quarter worth $28,000. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix in the 4th quarter worth $43,000. AlphaQuest LLC acquired a new stake in shares of Ocular Therapeutix during the fourth quarter worth $53,000. GAMMA Investing LLC increased its holdings in Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 8,112 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 8,446 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $6.30 on Tuesday. The stock’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $8.67. Ocular Therapeutix has a one year low of $4.06 and a one year high of $11.78. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -4.77 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.