Ocular Therapeutix (NASDAQ:OCUL) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $15.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on OCUL. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.29.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $7.88 on Tuesday. The business’s fifty day simple moving average is $7.71 and its 200-day simple moving average is $8.83. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.25 billion, a PE ratio of -5.97 and a beta of 1.34. Ocular Therapeutix has a 52 week low of $4.06 and a 52 week high of $11.78.

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

Insiders Place Their Bets

In other news, insider Donald Notman sold 11,119 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the transaction, the insider now directly owns 193,444 shares in the company, valued at $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 of the company’s stock, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock valued at $283,772 over the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently modified their holdings of OCUL. Charles Schwab Investment Management Inc. increased its holdings in shares of Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares in the last quarter. Patient Square Capital LP purchased a new position in Ocular Therapeutix in the third quarter valued at about $2,049,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $4,288,000. FMR LLC boosted its stake in shares of Ocular Therapeutix by 7,098.7% during the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock worth $3,779,000 after acquiring an additional 428,335 shares in the last quarter. Finally, Knoll Capital Management LLC grew its holdings in shares of Ocular Therapeutix by 199.6% in the 3rd quarter. Knoll Capital Management LLC now owns 600,400 shares of the biopharmaceutical company’s stock worth $5,223,000 after acquiring an additional 400,000 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.