Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stock Has Average Price Target of $24.33 According to Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.86.

OCUL has been the topic of a number of research analyst reports. UBS Group began coverage on Ocular Therapeutix in a report on Sunday, October 11th. They set a “buy” rating and a $14.00 target price on the stock. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, September 29th.

Insider Transactions at Ocular Therapeutix

In other news, insider Todd Anderman sold 11,984 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $7.29, for a total transaction of $87,363.36. Following the sale, the insider owned 140,484 shares in the company, valued at approximately $1,024,128.36. The trade was a 7.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Jeffrey Heier sold 10,869 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $7.05, for a total transaction of $76,626.45. Following the sale, the insider owned 307,457 shares in the company, valued at approximately $2,167,571.85. This trade represents a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 62,720 shares of company stock worth $556,247. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of OCUL. BlackRock Inc. purchased a new position in shares of Ocular Therapeutix during the second quarter valued at approximately $190,278,000. Avoro Capital Advisors LLC grew 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 worth $130,842,000 after buying an additional 527,777 shares during the last quarter. Summer Road LLC grew its stake in shares of Ocular Therapeutix by 6.9% in the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after buying an additional 771,270 shares during the last quarter. Octagon Capital Advisors LP grew its stake in shares of Ocular Therapeutix by 20.7% in the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock worth $26,821,000 after buying an additional 543,000 shares during the last quarter. Finally, Commodore Capital LP bought a new position in Ocular Therapeutix during the 1st quarter valued at approximately $21,810,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Trading Down 6.9%

Shares of OCUL opened at $6.87 on Friday. The firm’s 50-day moving average price is $9.56 and its 200-day moving average price is $9.22. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.84 and a beta of 1.00. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. Ocular Therapeutix has a 1-year low of $6.23 and a 1-year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. Ocular Therapeutix’s revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that Ocular Therapeutix will post -1.47 EPS for the current year.

Ocular Therapeutix Company Profile

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 formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.