Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.71.

OCUL has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. Scotiabank initiated coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target on the stock.

Ocular Therapeutix Stock Down 0.5 %

NASDAQ:OCUL opened at $8.01 on Thursday. Ocular Therapeutix has a 52 week low of $3.76 and a 52 week high of $11.77. The stock’s fifty day moving average is $8.94 and its two-hundred day moving average is $8.99. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -6.07 and a beta of 1.23. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the transaction, the insider now owns 269,059 shares in the company, valued at $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 12.7% during the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock worth $55,130,000 after purchasing an additional 911,064 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Ocular Therapeutix during the 3rd quarter worth about $24,584,000. Point72 Asset Management L.P. acquired a new position in shares of Ocular Therapeutix during the 2nd quarter worth about $18,514,000. Deltec Asset Management LLC increased its holdings in shares of Ocular Therapeutix by 0.4% in the 3rd quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock valued at $22,621,000 after acquiring an additional 9,808 shares during the last quarter. Finally, Braidwell LP raised its position in shares of Ocular Therapeutix by 36.3% during the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after acquiring an additional 596,000 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.