Ocular Therapeutix (NASDAQ:OCUL) Given New $15.00 Price Target at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL) had its target price upped by HC Wainwright from $14.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the company. Scotiabank initiated coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company. Robert W. Baird lowered their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

Ocular Therapeutix Trading Down 7.7 %

NASDAQ:OCUL 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 business’s 50-day moving average price is $9.88 and its two-hundred day moving average price 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. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -6.94 and a beta of 1.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OCUL. Avoro Capital Advisors LLC bought a new position in shares of Ocular Therapeutix during the first quarter worth about $65,055,000. Assenagon Asset Management S.A. bought a new position in shares of Ocular Therapeutix during the third quarter worth about $24,584,000. Point72 Asset Management L.P. bought a new position in shares of Ocular Therapeutix during the second quarter worth about $18,514,000. Vanguard Group Inc. grew its holdings in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares in the last quarter. Finally, Nantahala Capital Management LLC bought a new position in shares of Ocular Therapeutix during the second quarter worth about $6,840,000. 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.