HC Wainwright Raises Ocular Therapeutix (NASDAQ:OCUL) Price Target to $15.00

Ocular Therapeutix (NASDAQ:OCUL) had its price target boosted by investment analysts at HC Wainwright from $14.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 51.21% from the stock’s current price.

Several other brokerages have also issued reports on OCUL. Robert W. Baird reduced their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Scotiabank initiated 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Ocular Therapeutix Trading Down 6.4 %

Shares of Ocular Therapeutix stock opened at $9.92 on Friday. Ocular Therapeutix has a fifty-two week low of $2.05 and a fifty-two week high of $11.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.35 and a beta of 1.26. The stock has a 50 day moving average of $9.83 and a 200 day moving average of $7.96.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ocular Therapeutix during the 1st quarter worth about $486,000. SG Americas Securities LLC grew its holdings in Ocular Therapeutix by 47.3% during the 1st quarter. SG Americas Securities LLC now owns 28,946 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 9,300 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Ocular Therapeutix by 55.7% in the 1st quarter. ProShare Advisors LLC now owns 28,498 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 10,194 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after purchasing an additional 2,117,029 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Ocular Therapeutix by 39.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 3,257 shares during the last quarter. 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.