Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.71.

Several equities research analysts have issued reports on OCUL shares. HC Wainwright lifted their target price on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank started coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price for the company. Finally, Robert W. Baird dropped their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OCUL. Vanguard Group Inc. increased its stake in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after buying an additional 2,117,029 shares during the period. American International Group Inc. lifted its stake in Ocular Therapeutix by 43.4% in the first quarter. American International Group Inc. now owns 56,981 shares of the biopharmaceutical company’s stock worth $519,000 after acquiring an additional 17,251 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Ocular Therapeutix by 1,142.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock valued at $6,031,000 after acquiring an additional 609,328 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Ocular Therapeutix during the 1st quarter valued at $94,000. Finally, Cetera Investment Advisers increased its position in Ocular Therapeutix by 6.5% during the 1st quarter. Cetera Investment Advisers now owns 725,990 shares of the biopharmaceutical company’s stock valued at $6,607,000 after purchasing an additional 44,590 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Price Performance

OCUL stock opened at $9.75 on Wednesday. The firm has a 50 day moving average of $9.90 and a 200-day moving average of $8.17. 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 12 month low of $2.14 and a 12 month high of $11.77. The firm has a market capitalization of $1.53 billion, a P/E ratio of -7.39 and a beta of 1.26.

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.