Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.67.

Several equities research analysts recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Friday, June 21st. Finally, TD Cowen downgraded shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a report on Friday, June 21st.

Ocular Therapeutix Stock Up 3.2 %

OCUL stock opened at $8.71 on Friday. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31. The company has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $7.51. The firm has a market cap of $1.35 billion, a PE ratio of -6.45 and a beta of 1.28.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. During the same period in the previous year, the firm posted ($0.27) EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Ocular Therapeutix will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Great Point Partners LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter worth about $3,122,000. Artia Global Partners LP bought a new position in shares of Ocular Therapeutix during the 4th quarter worth about $1,962,000. Deltec Asset Management LLC increased its holdings in shares of Ocular Therapeutix by 9.6% during the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after purchasing an additional 226,181 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Ocular Therapeutix by 1,142.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after purchasing an additional 609,328 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Ocular Therapeutix by 41.4% during the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Institutional investors 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.