Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Consensus Rating of “Moderate Buy” by Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.83.

A number of equities analysts recently weighed in on the stock. TD Cowen cut shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 14th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 21st. Finally, JMP Securities lowered their price objective on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th.

Ocular Therapeutix Stock Up 0.1 %

Shares of NASDAQ OCUL opened at $6.69 on Friday. The company has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $6.44. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 21.39 and a quick ratio of 21.29. Ocular Therapeutix has a 1 year low of $2.00 and a 1 year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $14.77 million for the quarter, compared to analysts’ expectations of $15.43 million. Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. On average, equities research analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Great Point Partners LLC acquired a new position in Ocular Therapeutix in the fourth quarter valued at $3,122,000. Artia Global Partners LP purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $1,962,000. Deltec Asset Management LLC boosted its holdings in shares of Ocular Therapeutix by 18.5% in the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after acquiring an additional 381,810 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $667,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $20,071,000. Hedge funds and other 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.