Ocular Therapeutix Inc (OCUL) Receives $13.67 Average Target Price from Analysts

Ocular Therapeutix Inc (NASDAQ:OCUL) has received a consensus rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.67.

OCUL has been the topic of several research analyst reports. Piper Jaffray Companies set a $14.00 price target on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research note on Friday, March 8th. Cantor Fitzgerald restated a “buy” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Thursday, March 7th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 4th. Cowen restated a “buy” rating and set a $13.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 4th. Finally, ValuEngine upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.

In related news, Director Richard L. Md Lindstrom bought 56,441 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $4.33 per share, for a total transaction of $244,389.53. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $433,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael H. Goldstein bought 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $4.15 per share, for a total transaction of $41,500.00. The disclosure for this purchase can be found here. Insiders acquired a total of 90,441 shares of company stock worth $385,490 over the last 90 days. Insiders own 15.90% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Ocular Therapeutix by 15.2% in the fourth quarter. Geode Capital Management LLC now owns 350,673 shares of the biopharmaceutical company’s stock worth $1,395,000 after buying an additional 46,281 shares during the last quarter. Millennium Management LLC grew its position in shares of Ocular Therapeutix by 31.3% in the fourth quarter. Millennium Management LLC now owns 210,273 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 50,118 shares during the period. Summer Road LLC boosted its position in Ocular Therapeutix by 25.0% during the fourth quarter. Summer Road LLC now owns 3,784,850 shares of the biopharmaceutical company’s stock worth $15,064,000 after acquiring an additional 757,362 shares during the last quarter. Bank of America Corp DE increased its stake in Ocular Therapeutix by 197.0% during the 4th quarter. Bank of America Corp DE now owns 26,271 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 17,425 shares during the period. Finally, Two Sigma Investments LP increased its stake in Ocular Therapeutix by 269.5% during the 4th quarter. Two Sigma Investments LP now owns 70,181 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 51,186 shares during the period. Institutional investors and hedge funds own 50.50% of the company’s stock.

OCUL traded up $0.11 during mid-day trading on Friday, reaching $4.26. 22,163 shares of the company traded hands, compared to its average volume of 552,952. The firm has a market cap of $180.58 million, a PE ratio of -2.71 and a beta of 1.86. The company has a current ratio of 6.14, a quick ratio of 6.11 and a debt-to-equity ratio of 0.69. Ocular Therapeutix has a 52-week low of $3.46 and a 52-week high of $8.28.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.45 million. Ocular Therapeutix had a negative net margin of 3,013.97% and a negative return on equity of 136.09%. As a group, research analysts forecast that Ocular Therapeutix will post -1.58 EPS for the current fiscal year.

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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.

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Analyst Recommendations for Ocular Therapeutix (NASDAQ:OCUL)

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