Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Recommendation of “Moderate Buy” by Brokerages

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

OCUL has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. Scotiabank started coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price on the stock.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the transaction, the insider now owns 269,059 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OCUL. Avoro Capital Advisors LLC grew its position in Ocular Therapeutix by 12.7% in the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock worth $55,130,000 after acquiring an additional 911,064 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Ocular Therapeutix during the 3rd quarter worth $24,584,000. Point72 Asset Management L.P. purchased a new position in shares of Ocular Therapeutix during the 2nd quarter worth $18,514,000. Deltec Asset Management LLC increased its position in shares of Ocular Therapeutix by 0.4% during the 3rd quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock worth $22,621,000 after purchasing an additional 9,808 shares during the last quarter. Finally, Braidwell LP raised its holdings in Ocular Therapeutix by 36.3% in the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after buying an additional 596,000 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $8.01 on Thursday. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 12-month low of $3.76 and a 12-month high of $11.77. The business’s 50 day moving average is $8.94 and its two-hundred day moving average is $8.99. The company has a market capitalization of $1.26 billion, a P/E ratio of -6.07 and a beta of 1.23.

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.