Ocular Therapeutix (NASDAQ:OCUL) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $17.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, Needham & Company LLC initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.38.

Ocular Therapeutix Stock Down 3.4 %

NASDAQ:OCUL opened at $7.44 on Tuesday. The firm has a market capitalization of $1.18 billion, a PE ratio of -5.64 and a beta of 1.34. The stock has a 50 day moving average of $7.58 and a 200-day moving average of $8.79. Ocular Therapeutix has a 52 week low of $4.06 and a 52 week high of $11.78. 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 (NASDAQ:OCUL) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald Notman sold 11,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock worth $283,772 over the last ninety days. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at $28,000. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at $43,000. AlphaQuest LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at $53,000. Tower Research Capital LLC TRC increased its holdings in shares of Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 8,446 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at $90,000. 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.