Ocular Therapeutix (NASDAQ:OCUL) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report released on Tuesday,Benzinga reports. The firm currently has a $15.00 target price on the biopharmaceutical company’s stock.

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

Ocular Therapeutix Trading Down 2.9 %

NASDAQ OCUL opened at $9.49 on Tuesday. Ocular Therapeutix has a 12 month low of $2.88 and a 12 month high of $11.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.19 and a beta of 1.19. The company’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $8.33.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 2,948 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now owns 269,059 shares in the company, valued at $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Deltec Asset Management LLC grew its stake in shares of Ocular Therapeutix by 9.6% in the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after purchasing an additional 226,181 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the last quarter. Banco Santander S.A. grew its stake in shares of Ocular Therapeutix by 81.3% in the 2nd quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock worth $2,581,000 after purchasing an additional 169,172 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Ocular Therapeutix by 39.1% in the 2nd quarter. Rhumbline Advisers now owns 211,301 shares of the biopharmaceutical company’s stock worth $1,445,000 after purchasing an additional 59,345 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Ocular Therapeutix by 49.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company’s stock worth $3,390,000 after purchasing an additional 164,383 shares during the last quarter. 59.21% of the stock is currently owned by 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.