Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.80 Average PT from Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average recommendation of “Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.80.

Several brokerages recently weighed in on OCUL. JMP Securities reissued a “market outperform” rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, March 13th. StockNews.com raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Monday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Ocular Therapeutix in a report on Wednesday, February 14th. Bank of America assumed coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 target price for the company. Finally, Piper Sandler upped their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th.

Ocular Therapeutix Stock Down 6.5 %

Shares of Ocular Therapeutix stock opened at $9.49 on Friday. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. The firm has a market cap of $1.41 billion, a P/E ratio of -7.59 and a beta of 1.32. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The business has a 50-day moving average price of $7.34 and a 200 day moving average price of $4.67.

Insider Buying and Selling

In related news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the completion of the transaction, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony C. Mattessich sold 18,338 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The disclosure for this sale can be found here. Insiders sold 39,366 shares of company stock valued at $194,862 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently added to or reduced their stakes in OCUL. Franklin Resources Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter worth approximately $20,071,000. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after purchasing an additional 1,057,123 shares during the period. Sectoral Asset Management Inc. acquired a new stake in Ocular Therapeutix in the second quarter worth approximately $4,142,000. Nuveen Asset Management LLC lifted its position in Ocular Therapeutix by 376.4% in the second quarter. Nuveen Asset Management LLC now owns 919,602 shares of the biopharmaceutical company’s stock worth $4,745,000 after purchasing an additional 726,569 shares during the period. Finally, Great Point Partners LLC acquired a new stake in Ocular Therapeutix in the fourth quarter worth approximately $3,122,000. 54.42% of the stock is currently owned by institutional investors and hedge funds.

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.