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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.71.

Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. Scotiabank assumed coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Jeffrey S. Heier sold 2,948 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at $2,424,221.59. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently made changes to their positions in OCUL. Avoro Capital Advisors LLC raised its holdings in shares of Ocular Therapeutix by 12.7% in the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after buying an additional 911,064 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Ocular Therapeutix in the third quarter valued at $24,584,000. Point72 Asset Management L.P. acquired a new position in shares of Ocular Therapeutix in the 2nd quarter valued at about $18,514,000. Deltec Asset Management LLC increased its holdings in Ocular Therapeutix by 0.4% in the 3rd quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock valued at $22,621,000 after purchasing an additional 9,808 shares in the last quarter. Finally, Braidwell LP increased its stake in Ocular Therapeutix by 36.3% during the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after buying an additional 596,000 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Trading Up 0.6 %

Shares of NASDAQ:OCUL opened at $8.50 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The company has a market cap of $1.34 billion, a P/E ratio of -6.44 and a beta of 1.19. The stock’s 50-day moving average is $9.98 and its 200-day moving average is $8.60. Ocular Therapeutix has a 52-week low of $3.76 and a 52-week high of $11.77.

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.