Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.71.

Several research firms have weighed in on OCUL. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. Scotiabank began coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company.

Ocular Therapeutix Stock Up 3.4 %

Shares of NASDAQ:OCUL opened at $8.13 on Thursday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -6.16 and a beta of 1.23. Ocular Therapeutix has a one year low of $3.76 and a one year high of $11.77. The firm has a fifty day moving average price of $9.11 and a two-hundred day moving average price of $8.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Insider Activity

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 shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the transaction, the insider now owns 269,059 shares in the company, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,015 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Ocular Therapeutix by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after purchasing an additional 1,168 shares in the last quarter. Amalgamated Bank raised its holdings in Ocular Therapeutix by 37.9% in the second 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 boosted its holdings in shares of Ocular Therapeutix by 5.1% during the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after buying an additional 3,168 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Ocular Therapeutix by 36.9% in the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 4,695 shares during the period. Hedge funds and other institutional investors 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.