TD Cowen Forecasts Strong Price Appreciation for Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix (NASDAQ:OCUL) had its price target boosted by equities researchers at TD Cowen from $14.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price suggests a potential upside of 71.53% from the company’s previous close.

Several other equities research analysts have also recently issued reports on OCUL. Scotiabank cut their target price on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th. Needham & Company LLC raised their target price on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Robert W. Baird raised their target price on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. Finally, Chardan Capital reissued a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research note on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Ocular Therapeutix Price Performance

OCUL stock opened at $11.66 on Thursday. The business has a fifty day moving average of $12.09 and a two-hundred day moving average of $10.38. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -9.11 and a beta of 1.45. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The business had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.Ocular Therapeutix’s revenue was down 17.7% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. As a group, research analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of Ocular Therapeutix stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $115,942.08. Following the completion of the transaction, the insider directly owned 249,409 shares in the company, valued at approximately $2,753,475.36. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the transaction, the insider owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 61,806 shares of company stock valued at $727,648. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Brooklyn Investment Group boosted its holdings in Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. Trust Co. of Vermont boosted its holdings 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 during the period. Finally, Vontobel Holding Ltd. purchased a new position in Ocular Therapeutix in the first quarter valued at $79,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.