Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.7778.

Several brokerages have recently commented on OCUL. William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Chardan Capital reissued a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 20,056 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $8.28, for a total transaction of $166,063.68. Following the sale, the insider owned 3,013,022 shares of the company’s stock, valued at $24,947,822.16. The trade was a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nadia Waheed sold 3,510 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.74, for a total value of $27,167.40. Following the sale, the insider directly owned 314,907 shares in the company, valued at $2,437,380.18. This trade represents a 1.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,192 shares of company stock worth $256,374 over the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the company. Summer Road LLC lifted its stake in Ocular Therapeutix by 6.9% in the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock valued at $100,622,000 after buying an additional 771,270 shares in the last quarter. Vanguard Group Inc. lifted its stake in Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after buying an additional 2,411,953 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Ocular Therapeutix by 5.1% in the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after buying an additional 527,777 shares in the last quarter. TCG Crossover Management LLC lifted its stake in Ocular Therapeutix by 15.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after buying an additional 798,084 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Ocular Therapeutix by 15.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock valued at $56,148,000 after buying an additional 620,700 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $8.03 on Thursday. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $8.86 and its two-hundred day moving average is $10.34. Ocular Therapeutix has a 12-month low of $6.23 and a 12-month high of $16.44. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.50 and a beta of 0.93.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.