Ocular Therapeutix (NASDAQ:OCUL) Price Target Raised to $15.00

Ocular Therapeutix (NASDAQ:OCUL) had its price objective upped by equities researchers at HC Wainwright from $14.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 63.76% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Scotiabank began coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Robert W. Baird reduced their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $9.16 on Friday. Ocular Therapeutix has a 1-year low of $2.05 and a 1-year high of $11.77. The firm’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $8.02. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Atlas Capital Advisors LLC purchased a new position in Ocular Therapeutix in the second quarter valued at about $34,000. Amalgamated Bank grew its stake in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ocular Therapeutix by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 1,015 shares during the period. Algert Global LLC acquired a new position in Ocular Therapeutix during the 2nd quarter worth approximately $69,000. Finally, Capital Performance Advisors LLP purchased a new position in Ocular Therapeutix in the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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-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.