Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $16.71 Average Target Price from Brokerages

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.71.

Several equities analysts recently issued reports on the company. Scotiabank assumed coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 3rd.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares in the company, valued at $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in OCUL. Mirae Asset Global Investments Co. Ltd. raised its position in Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Ocular Therapeutix by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock worth $3,860,000 after purchasing an additional 1,168 shares in the last quarter. Amalgamated Bank increased its stake in shares of Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,481 shares in the last quarter. HighVista Strategies LLC raised its holdings in Ocular Therapeutix by 5.1% in the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after purchasing an additional 3,168 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Ocular Therapeutix by 36.9% during the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 4,695 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Down 2.7 %

Shares of Ocular Therapeutix stock opened at $8.33 on Friday. The company has a 50-day simple moving average of $9.95 and a two-hundred day simple moving average of $8.65. The stock has a market capitalization of $1.31 billion, a PE ratio of -6.31 and a beta of 1.20. Ocular Therapeutix has a 52-week low of $3.76 and a 52-week high of $11.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

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.