Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) have been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.67.
OCUL has been the subject of several research analyst reports. HC Wainwright set a $10.00 target price on shares of Jaguar Health and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. JMP Securities set a $9.00 target price on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research report on Friday, June 21st. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Piper Jaffray Companies set a $8.00 target price on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Raymond James set a C$0.50 target price on shares of Obsidian Energy and gave the stock a “market perform” rating in a research report on Tuesday, May 21st.
Shares of NASDAQ:OCUL traded down $0.12 on Tuesday, hitting $5.18. The company had a trading volume of 681,116 shares, compared to its average volume of 688,896. The stock’s 50-day moving average is $4.15. Ocular Therapeutix has a 1 year low of $2.35 and a 1 year high of $7.31. The company has a quick ratio of 9.16, a current ratio of 9.19 and a debt-to-equity ratio of 2.17. The company has a market cap of $221.90 million, a price-to-earnings ratio of -3.30 and a beta of 2.25.
In other Ocular Therapeutix news, Chairman Amarpreet Sawhney purchased 124,468 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $2.92 per share, for a total transaction of $363,446.56. Following the purchase, the chairman now directly owns 990,563 shares in the company, valued at $2,892,443.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael H. Goldstein purchased 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $2.51 per share, with a total value of $30,120.00. Following the completion of the purchase, the insider now owns 25,686 shares in the company, valued at $64,471.86. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 229,248 shares of company stock valued at $669,811. 16.10% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Ocular Therapeutix by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 99,190 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 4,896 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in Ocular Therapeutix during the 1st quarter valued at about $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Ocular Therapeutix by 100.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 20,000 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 10,000 shares in the last quarter. Northern Trust Corp increased its stake in Ocular Therapeutix by 3.7% during the 4th quarter. Northern Trust Corp now owns 403,442 shares of the biopharmaceutical company’s stock valued at $1,606,000 after purchasing an additional 14,493 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Ocular Therapeutix by 50.3% during the 4th quarter. Rhumbline Advisers now owns 43,465 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 14,551 shares in the last quarter. Institutional investors own 52.33% of the company’s stock.
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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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