Ocular Therapeutix (NASDAQ:OCUL) Receives Buy Rating from Needham & Company LLC

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $20.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 23.93% from the company’s current price.

Several other analysts also recently weighed in on OCUL. TD Cowen raised their target price on Ocular Therapeutix from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Robert W. Baird boosted their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday. Chardan Capital restated a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, November 5th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Ocular Therapeutix Trading Up 28.3%

Shares of NASDAQ:OCUL traded up $3.56 during trading on Monday, reaching $16.14. The stock had a trading volume of 9,877,213 shares, compared to its average volume of 2,145,056. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $16.10. The business has a fifty day moving average price of $11.63 and a 200-day moving average price of $11.13. The stock has a market cap of $3.44 billion, a P/E ratio of -11.14 and a beta of 0.96. The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. The company had revenue of $14.54 million during the quarter, compared to analysts’ expectations of $14.57 million. As a group, analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of Ocular Therapeutix stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following the sale, the insider owned 194,440 shares in the company, valued at $2,144,673.20. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey S. Heier sold 10,502 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the sale, the insider directly owned 249,409 shares in the company, valued at $2,753,475.36. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,287 shares of company stock worth $359,784. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,392 shares during the last quarter. Brooklyn Investment Group boosted its stake in Ocular Therapeutix by 151.5% in the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 893 shares during the last quarter. Trust Co. of Vermont grew its position in Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Quarry LP bought a new position in Ocular Therapeutix in the third quarter valued at approximately $80,000. 59.21% of the stock is currently owned by institutional investors.

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.