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

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

A number of brokerages recently commented on OCUL. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday. Robert W. Baird decreased their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Scotiabank initiated coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price on the stock.

Ocular Therapeutix Stock Down 2.9 %

NASDAQ:OCUL opened at $9.49 on Wednesday. Ocular Therapeutix has a 52 week low of $2.88 and a 52 week high of $11.77. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $10.02 and its two-hundred day moving average is $8.33. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.19 and a beta of 1.19.

Insiders Place Their Bets

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

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in OCUL. Barclays PLC increased its stake in Ocular Therapeutix by 37.1% in the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $4,451,000 after purchasing an additional 138,441 shares in the last quarter. Wellington Management Group LLP lifted its position in Ocular Therapeutix by 47.1% during the third quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock valued at $4,027,000 after buying an additional 148,310 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Ocular Therapeutix during the 3rd quarter worth $4,288,000. Patient Square Capital LP purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at about $2,049,000. Finally, HighVista Strategies LLC lifted its position in shares of Ocular Therapeutix by 5.1% during the third 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 in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.