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

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $16.57.

Several equities analysts recently commented on the stock. Scotiabank started coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their price target 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC acquired a new stake in shares of Ocular Therapeutix in the 2nd quarter valued at approximately $34,000. Amalgamated Bank boosted its position in Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 1,015 shares during the last quarter. Algert Global LLC acquired a new position in shares of Ocular Therapeutix during the second quarter worth $69,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Ocular Therapeutix in the 3rd quarter valued at $70,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $10.39 on Friday. The company has a fifty day moving average price of $9.49 and a 200 day moving average price of $7.63. The firm has a market cap of $1.62 billion, a PE ratio of -7.70 and a beta of 1.29. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. Ocular Therapeutix has a 1-year low of $2.00 and a 1-year high of $11.77.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The company had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. During the same period in the prior year, the firm posted ($0.27) EPS. Ocular Therapeutix’s revenue was up 7.9% compared to the same quarter last year. Research analysts predict that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

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.