Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Reaffirmed by HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $16.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 173.04% from the company’s current price.

OCUL has been the subject of several other reports. JMP Securities reissued a “market outperform” rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. Bank of America initiated coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company. Piper Sandler upped their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $5.86 on Friday. The company has a market capitalization of $870.97 million, a price-to-earnings ratio of -4.69 and a beta of 1.30. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.31. The firm’s 50-day moving average is $8.74 and its 200 day moving average is $5.29. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). The company had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. Research analysts predict that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In related news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald Notman sold 6,433 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the sale, the chief financial officer now directly owns 139,932 shares of the company’s stock, valued at approximately $692,663.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,366 shares of company stock valued at $194,862. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of OCUL. Franklin Resources Inc. purchased a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $20,071,000. Vanguard Group Inc. increased its stake in Ocular Therapeutix by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock valued at $22,827,000 after purchasing an additional 1,057,123 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Ocular Therapeutix by 376.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 919,602 shares of the biopharmaceutical company’s stock valued at $4,745,000 after purchasing an additional 726,569 shares in the last quarter. Great Point Partners LLC acquired a new position in Ocular Therapeutix during the 4th quarter valued at approximately $3,122,000. Finally, Federated Hermes Inc. acquired a new position in Ocular Therapeutix during the 1st quarter valued at approximately $3,080,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.