Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $22.3333.

Several research analysts recently weighed in on the company. TD Cowen boosted their target price on Ocular Therapeutix from $14.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, October 30th. Cowen restated a "buy" rating on shares of Ocular Therapeutix in a research note on Thursday, October 30th. Royal Bank Of Canada restated an "outperform" rating on shares of Ocular Therapeutix in a report on Wednesday, November 5th. Citigroup reaffirmed an "outperform" rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Finally, Needham & Company LLC boosted their target price on shares of Ocular Therapeutix from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st.

View Our Latest Report on OCUL

Ocular Therapeutix Stock Up 2.9%

Shares of Ocular Therapeutix stock opened at $12.10 on Thursday. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The firm's 50 day moving average price is $11.74 and its 200-day moving average price is $10.70. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.58 billion, a P/E ratio of -9.45 and a beta of 1.53.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company had revenue of $14.54 million during the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. On average, sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the sale, the insider owned 87,568 shares of the company's stock, valued at approximately $1,080,589.12. The trade was a 11.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter Kaiser sold 9,653 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total value of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares in the company, valued at $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,806 shares of company stock worth $727,648. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 893 shares during the period. Trust Co. of Vermont lifted its position in Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 1,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in Ocular Therapeutix by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company's stock valued at $674,000 after purchasing an additional 1,314 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Ocular Therapeutix by 8.1% during the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock worth $141,000 after purchasing an additional 1,472 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.

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