Ocular Therapeutix (NASDAQ:OCUL) Now Covered by Analysts at William Blair

William Blair initiated coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the company. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $6.02 on Tuesday. The firm’s 50 day simple moving average is $7.31 and its 200 day simple moving average is $8.63. The firm has a market capitalization of $957.31 million, a price-to-earnings ratio of -4.56 and a beta of 1.49. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 1 year low of $4.06 and a 1 year high of $11.78.

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

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Ocular Therapeutix by 4.5% during the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company’s stock worth $1,635,000 after buying an additional 9,514 shares during the period. GAMMA Investing LLC boosted its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 8,112 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ocular Therapeutix by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company’s stock worth $3,991,000 after acquiring an additional 4,488 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix in the 4th quarter worth about $28,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ocular Therapeutix by 48.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,588 shares of the biopharmaceutical company’s stock valued at $1,867,000 after purchasing an additional 70,904 shares during the period. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.