Ocular Therapeutix (NASDAQ:OCUL) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $15.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on OCUL. Scotiabank began coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price objective on the stock. Robert W. Baird lowered their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $9.18 on Tuesday. The firm has a market capitalization of $1.44 billion, a PE ratio of -6.95 and a beta of 1.19. The stock’s 50 day moving average is $10.04 and its two-hundred day moving average is $8.34. Ocular Therapeutix has a twelve month low of $3.24 and a twelve month high of $11.77. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 2,948 shares of Ocular Therapeutix stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the transaction, the insider now owns 269,059 shares of the company’s stock, valued at $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Trading of Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Atlas Capital Advisors LLC acquired a new stake in shares of Ocular Therapeutix during the second quarter valued at $34,000. Amalgamated Bank lifted its holdings in Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 1,015 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter worth about $70,000. Finally, Algert Global LLC purchased a new stake in shares of Ocular Therapeutix during the second quarter worth about $69,000. Hedge funds and other institutional investors own 59.21% 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-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.