Ocular Therapeutix (NASDAQ:OCUL) Now Covered by Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $17.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 114.11% from the stock’s previous close.

Several other brokerages also recently issued reports on OCUL. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC started coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Stock Up 2.8 %

Shares of Ocular Therapeutix stock opened at $7.94 on Tuesday. The business has a 50-day moving average price of $7.67 and a 200 day moving average price of $8.82. Ocular Therapeutix has a fifty-two week low of $4.06 and a fifty-two week high of $11.78. The firm has a market cap of $1.26 billion, a P/E ratio of -6.02 and a beta of 1.34. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. On average, sell-side analysts forecast that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock valued at $283,772 over the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OCUL. GF Fund Management CO. LTD. purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $28,000. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix in the fourth quarter worth $43,000. AlphaQuest LLC bought a new stake in shares of Ocular Therapeutix during the 4th quarter worth about $53,000. Tower Research Capital LLC TRC boosted its position in Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 8,446 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter worth $90,000. Hedge funds and other 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.