Ocular Therapeutix, Inc. (NASDAQ:OCUL) Stock Has Average Target Price of $23.33 According to Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.33.

Several brokerages have weighed in on OCUL. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, October 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Ocular Therapeutix in a research report on Friday, October 2nd.

Ocular Therapeutix Stock Up 2.5%

Shares of OCUL stock opened at $6.59 on Thursday. The stock’s fifty day moving average price is $8.40 and its 200 day moving average price is $9.02. Ocular Therapeutix has a 1-year low of $6.00 and a 1-year high of $16.44. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -4.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Todd Anderman sold 11,984 shares of the firm’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $7.29, for a total value of $87,363.36. Following the completion of the transaction, the insider owned 140,484 shares of the company’s stock, valued at approximately $1,024,128.36. This trade represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, the insider directly owned 2,525,429 shares of the company’s stock, valued at approximately $27,198,870.33. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 62,720 shares of company stock worth $556,247 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new position in Ocular Therapeutix in the 4th quarter worth $31,000. Integrated Wealth Concepts LLC purchased a new stake in Ocular Therapeutix during the 2nd quarter valued at about $51,000. Sterling Capital Management LLC grew its stake in Ocular Therapeutix by 401.7% during the 3rd quarter. Sterling Capital Management LLC now owns 6,612 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 5,294 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Ocular Therapeutix during the 3rd quarter valued at about $66,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ocular Therapeutix in the third quarter valued at about $86,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.