Ocular Therapeutix (NASDAQ:OCUL) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a $16.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the company. JMP Securities reiterated a market outperform rating and set a $24.00 price target on shares of Ocular Therapeutix in a report on Tuesday. Piper Sandler increased their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a report on Monday, February 26th. StockNews.com downgraded Ocular Therapeutix from a hold rating to a sell rating in a report on Friday, April 5th. Finally, Bank of America started coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a buy rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ocular Therapeutix has an average rating of Moderate Buy and a consensus target price of $17.60.

Ocular Therapeutix Trading Down 10.9 %

Shares of OCUL opened at $5.22 on Friday. The firm’s 50 day moving average price is $8.76 and its 200 day moving average price is $5.30. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, equities research analysts forecast that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other news, CFO Donald Notman sold 6,433 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the sale, the chief financial officer now owns 139,932 shares in the company, valued at $692,663.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the sale, the chief executive officer now owns 427,943 shares in the company, valued at $2,118,317.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the sale, the chief financial officer now owns 139,932 shares in the company, valued at approximately $692,663.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,366 shares of company stock worth $194,862. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently bought and sold shares of OCUL. FMR LLC boosted its stake in Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Ocular Therapeutix by 61.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,500 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the period. Rafferty Asset Management LLC bought a new position in shares of Ocular Therapeutix during the third quarter valued at $37,000. Finally, SG Americas Securities LLC bought a new position in shares of Ocular Therapeutix during the third quarter valued at $38,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.