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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.83.

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Ocular Therapeutix in a report on Friday, June 14th. TD Cowen lowered Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. JMP Securities reduced their price objective on Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Friday, June 21st.

Ocular Therapeutix Price Performance

NASDAQ OCUL opened at $6.69 on Friday. The business’s fifty day moving average price is $5.82 and its 200-day moving average price is $6.44. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 21.39 and a quick ratio of 21.29. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $14.77 million for the quarter, compared to the consensus estimate of $15.43 million. Ocular Therapeutix had a negative net margin of 192.61% and a negative return on equity of 76.64%. On average, equities analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently bought and sold shares of OCUL. Trust Co. of Vermont increased its stake in Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,152 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 5,730 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ocular Therapeutix during the fourth quarter valued at about $45,000. Finally, Profund Advisors LLC grew its position in shares of Ocular Therapeutix by 94.1% during the third quarter. Profund Advisors LLC now owns 20,827 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 10,099 shares in the last quarter. 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.