Ocular Therapeutix (NASDAQ:OCUL) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $17.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on OCUL. Needham & Company LLC began coverage on Ocular Therapeutix in a report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price on the stock. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $7.44 on Tuesday. Ocular Therapeutix has a twelve month low of $4.06 and a twelve month high of $11.78. The stock has a market capitalization of $1.18 billion, a P/E ratio of -5.64 and a beta of 1.34. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $7.58 and its 200 day moving average price is $8.79.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The firm had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. As a group, research analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In other news, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the sale, the insider now directly owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. Intech Investment Management LLC bought a new stake in Ocular Therapeutix in the third quarter valued at about $422,000. Charles Schwab Investment Management Inc. increased its holdings in Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after buying an additional 660,080 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ocular Therapeutix by 11.3% in the third quarter. The Manufacturers Life Insurance Company now owns 130,202 shares of the biopharmaceutical company’s stock valued at $1,133,000 after buying an additional 13,238 shares during the last quarter. FMR LLC increased its holdings in Ocular Therapeutix by 7,098.7% in the third quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock valued at $3,779,000 after buying an additional 428,335 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Ocular Therapeutix in the third quarter valued at about $544,000. 59.21% of the stock is owned by institutional investors.

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.