Ocular Therapeutix’s (OCUL) “Buy” Rating Reaffirmed at Needham & Company LLC

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They presently have a $18.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC‘s target price would suggest a potential upside of 172.93% from the company’s previous close.

OCUL has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, October 15th. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Chardan Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Ocular Therapeutix in a research report on Friday, October 2nd. Finally, UBS Group initiated coverage on Ocular Therapeutix in a research note on Sunday, October 11th. They set a “buy” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.86.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock traded up $0.12 on Monday, reaching $6.60. 700,075 shares of the stock were exchanged, compared to its average volume of 3,954,677. The stock has a market cap of $1.45 billion, a PE ratio of -4.64 and a beta of 1.00. The firm has a fifty day moving average price of $9.36 and a two-hundred day moving average price of $9.19. Ocular Therapeutix has a twelve month low of $6.00 and a twelve month high of $16.44. 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 (NASDAQ:OCUL) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $13.20 million. During the same quarter in the previous year, the firm earned ($0.39) EPS. The firm’s revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Ocular Therapeutix will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Todd Anderman sold 11,984 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $7.29, for a total value of $87,363.36. Following the transaction, the insider owned 140,484 shares of the company’s stock, valued at approximately $1,024,128.36. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Also, insider Pravin Dugel sold 21,649 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $233,159.73. Following the sale, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. The trade was a 0.85% 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. Insiders have sold 62,720 shares of company stock valued at $556,247 in the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in Ocular Therapeutix in the 3rd quarter valued at about $66,000. Engineers Gate Manager LP acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $401,000. Integrated Wealth Concepts LLC bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $51,000. NewEdge Advisors LLC lifted its holdings in Ocular Therapeutix by 21.7% during the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock worth $164,000 after buying an additional 2,979 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Ocular Therapeutix by 44.4% during the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after buying an additional 435,156 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.