HC Wainwright Reiterates “Buy” Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 152.95% from the company’s current price.

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL opened at $5.93 on Tuesday. The firm’s 50-day moving average price is $7.84 and its 200-day moving average price is $8.90. Ocular Therapeutix has a 52-week low of $4.06 and a 52-week high of $11.77. The company has a market cap of $932.30 million, a PE ratio of -4.49 and a beta of 1.22. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. As a group, analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the transaction, the insider now directly owns 204,563 shares in the company, valued at approximately $1,603,773.92. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after purchasing an additional 660,080 shares in the last quarter. Patient Square Capital LP purchased a new position in Ocular Therapeutix in the 3rd quarter worth approximately $2,049,000. Polar Asset Management Partners Inc. bought a new position in Ocular Therapeutix in the 3rd quarter worth approximately $4,288,000. FMR LLC boosted its stake in Ocular Therapeutix by 7,098.7% in the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock worth $3,779,000 after purchasing an additional 428,335 shares during the period. Finally, Knoll Capital Management LLC grew its holdings in Ocular Therapeutix by 199.6% during the 3rd quarter. Knoll Capital Management LLC now owns 600,400 shares of the biopharmaceutical company’s stock valued at $5,223,000 after buying an additional 400,000 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

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.