Ocular Therapeutix (NASDAQ:OCUL) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a $16.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on the stock. StockNews.com cut shares of Ocular Therapeutix from a hold rating to a sell rating in a research note on Friday, April 5th. JMP Securities reiterated a market outperform rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Bank of America initiated coverage on Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 price objective for the company. Finally, Piper Sandler increased their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an overweight rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of Moderate Buy and a consensus target price of $17.60.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $5.08 on Friday. The company has a market capitalization of $754.30 million, a price-to-earnings ratio of -4.02 and a beta of 1.31. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a 12 month low of $2.00 and a 12 month high of $11.31. The stock’s 50 day moving average is $8.75 and its 200-day moving average is $5.35.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The firm had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Equities research analysts expect that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In related news, CEO Antony C. Mattessich sold 18,338 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the sale, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now directly owns 92,767 shares of the company’s stock, valued at approximately $459,196.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $90,773.10. Following the transaction, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The disclosure for this sale can be found here. Insiders sold a total of 39,366 shares of company stock worth $194,862 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new stake in shares of Ocular Therapeutix during the 4th quarter valued at $20,071,000. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix during the fourth quarter worth about $3,122,000. Artia Global Partners LP acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $1,962,000. Deltec Asset Management LLC raised its holdings in Ocular Therapeutix by 18.5% in the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after buying an additional 381,810 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Ocular Therapeutix during the 4th quarter worth approximately $1,652,000. Institutional investors own 59.21% of the company’s stock.

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.