Several other brokerages also recently commented on OCUL. Zacks Investment Research upgraded Ocular Therapeutix from a sell rating to a hold rating in a report on Wednesday, July 24th. JMP Securities set a $9.00 price target on Ocular Therapeutix and gave the company a buy rating in a report on Friday, June 21st. Piper Jaffray Companies set a $8.00 price target on Ocular Therapeutix and gave the company a buy rating in a report on Friday, July 26th. HC Wainwright set a $9.00 price target on Ocular Therapeutix and gave the company a buy rating in a report on Tuesday, July 2nd. Finally, Raymond James downgraded Ocular Therapeutix from a strong-buy rating to an outperform rating and lowered their price target for the company from $11.00 to $5.00 in a report on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ocular Therapeutix has a consensus rating of Buy and an average price target of $9.18.
OCUL stock traded down $0.23 during midday trading on Thursday, hitting $4.59. 22,546 shares of the company traded hands, compared to its average volume of 1,001,996. Ocular Therapeutix has a twelve month low of $2.35 and a twelve month high of $7.31. The company has a quick ratio of 9.16, a current ratio of 9.19 and a debt-to-equity ratio of 2.17. The firm’s 50 day simple moving average is $4.70. The company has a market cap of $199.21 million, a PE ratio of -3.02 and a beta of 2.25.
In other news, insider Michael H. Goldstein bought 12,000 shares of Ocular Therapeutix stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $2.51 per share, with a total value of $30,120.00. Following the completion of the transaction, the insider now directly owns 25,686 shares in the company, valued at $64,471.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Amarpreet Sawhney bought 124,468 shares of Ocular Therapeutix stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $2.92 per share, with a total value of $363,446.56. Following the completion of the transaction, the chairman now owns 990,563 shares of the company’s stock, valued at $2,892,443.96. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 229,248 shares of company stock worth $669,811. 16.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Ocular Therapeutix by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 99,190 shares of the biopharmaceutical company’s stock worth $395,000 after purchasing an additional 4,896 shares during the period. BNP Paribas Arbitrage SA bought a new position in Ocular Therapeutix in the first quarter worth $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Ocular Therapeutix by 100.0% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 20,000 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 10,000 shares during the period. Creative Planning bought a new position in Ocular Therapeutix in the second quarter worth $52,000. Finally, Highland Capital Management LLC bought a new position in Ocular Therapeutix in the second quarter worth $62,000. 53.95% of the stock is owned by hedge funds and other institutional investors.
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. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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