Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Target Price at $16.80

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received an average recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.60.

A number of research firms recently weighed in on OCUL. Piper Sandler boosted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Bank of America initiated coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a research note on Friday.

Insiders Place Their Bets

In other news, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the transaction, the insider now directly owns 92,767 shares of the company’s stock, valued at $459,196.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the transaction, the insider now directly owns 92,767 shares of the company’s stock, valued at $459,196.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Summer Road Llc bought 930,851 shares of Ocular Therapeutix stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock valued at $194,862 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Trust Co. of Vermont grew its stake in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. Rafferty Asset Management LLC purchased a new stake in Ocular Therapeutix in the third quarter worth $37,000. SG Americas Securities LLC purchased a new stake in Ocular Therapeutix in the third quarter worth $38,000. China Universal Asset Management Co. Ltd. grew its stake in Ocular Therapeutix by 350.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 7,152 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $5.08 on Tuesday. The business has a 50 day moving average of $8.75 and a 200 day moving average of $5.35. The company has a market capitalization of $754.30 million, a price-to-earnings ratio of -4.02 and a beta of 1.31. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. On average, sell-side analysts predict that Ocular Therapeutix will post -0.68 earnings per share for the current fiscal year.

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.