Needham & Company LLC Reiterates Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 119.30% from the company’s previous close.

OCUL has been the subject of a number of other research reports. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, JMP Securities set a $19.00 target price on Ocular Therapeutix in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Trading Up 13.6 %

NASDAQ:OCUL opened at $6.84 on Tuesday. The company has a market capitalization of $1.09 billion, a PE ratio of -5.18 and a beta of 1.49. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 52-week low of $4.06 and a 52-week high of $11.78. The stock has a fifty day simple moving average of $7.28 and a 200-day simple moving average of $8.61.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The firm had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. On average, equities research analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

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 transaction, the insider now directly owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. This represents a 0.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald Notman sold 11,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now directly owns 193,444 shares in the company, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock valued at $283,772 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently made changes to their positions in OCUL. GF Fund Management CO. LTD. acquired a new stake in shares of Ocular Therapeutix during the 4th quarter valued at approximately $28,000. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter worth $43,000. AlphaQuest LLC acquired a new stake in Ocular Therapeutix in the fourth quarter worth $53,000. GAMMA Investing LLC increased its position in Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 8,112 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in 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 worth $76,000 after buying an additional 8,446 shares during the period. 59.21% of the stock is 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.