Ocular Therapeutix Inc (NASDAQ:OCUL) has earned an average rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.67.
Several equities analysts have weighed in on the stock. ValuEngine downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright set a $12.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a report on Friday, January 11th. Finally, Piper Jaffray Companies set a $14.00 price target on shares of Ocular Therapeutix and gave the company a “buy” rating in a report on Friday, March 8th.
NASDAQ:OCUL traded down $0.11 during trading hours on Thursday, hitting $3.62. 448,770 shares of the stock traded hands, compared to its average volume of 503,739. The company has a debt-to-equity ratio of 0.69, a current ratio of 6.14 and a quick ratio of 6.11. Ocular Therapeutix has a 1 year low of $3.46 and a 1 year high of $8.28. The company has a market capitalization of $158.59 million, a P/E ratio of -2.31 and a beta of 1.80.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.05). Ocular Therapeutix had a negative net margin of 3,013.97% and a negative return on equity of 136.09%. The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.45 million. On average, sell-side analysts anticipate that Ocular Therapeutix will post -1.47 earnings per share for the current fiscal year.
In related news, Director Richard L. Md Lindstrom bought 56,441 shares of the stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $4.33 per share, with a total value of $244,389.53. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $433,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael H. Goldstein bought 10,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. The disclosure for this purchase can be found here. Insiders bought 90,441 shares of company stock worth $385,490 in the last three months. Insiders own 15.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OCUL. Wells Fargo & Company MN raised its stake in Ocular Therapeutix by 37.0% during the third quarter. Wells Fargo & Company MN now owns 45,046 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 12,170 shares in the last quarter. BlackRock Inc. raised its stake in Ocular Therapeutix by 16.6% during the third quarter. BlackRock Inc. now owns 2,292,263 shares of the biopharmaceutical company’s stock valued at $15,770,000 after purchasing an additional 326,381 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Ocular Therapeutix during the third quarter valued at $200,000. Man Group plc purchased a new stake in Ocular Therapeutix during the third quarter valued at $3,461,000. Finally, Teachers Advisors LLC raised its stake in Ocular Therapeutix by 24.1% during the third quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 13,061 shares in the last quarter. 51.16% of the stock is currently owned by hedge funds and other institutional investors.
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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
Read More: What is a Buy-Side Analyst?
Receive News & Ratings for Ocular Therapeutix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocular Therapeutix and related companies with MarketBeat.com's FREE daily email newsletter.