HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright reissued their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company's stock. HC Wainwright also issued estimates for Ocular Therapeutix's Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.30) EPS, Q4 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.18) EPS.

Ocular Therapeutix Trading Up 2.7 %

Shares of OCUL traded up $0.20 during midday trading on Tuesday, hitting $7.54. 1,384,888 shares of the stock were exchanged, compared to its average volume of 1,556,316. Ocular Therapeutix has a 52-week low of $4.06 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The stock has a fifty day simple moving average of $7.76 and a 200 day simple moving average of $8.87. The firm has a market cap of $1.19 billion, a P/E ratio of -5.71 and a beta of 1.22.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The firm had revenue of $17.08 million for the quarter, compared to analysts' expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, research analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

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Insider Buying and Selling

In other news, insider Pravin Dugel sold 21,475 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares of the company's stock, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald Notman sold 6,301 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now owns 204,563 shares of the company's stock, valued at $1,603,773.92. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock valued at $283,772 in the last ninety days. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its stake in Ocular Therapeutix by 43.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after buying an additional 895,304 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company's stock valued at $9,661,000 after acquiring an additional 660,080 shares during the period. Braidwell LP raised its position 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 purchasing an additional 596,000 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Ocular Therapeutix in the 3rd quarter valued at $4,288,000. Finally, Millennium Management LLC acquired a new stake in Ocular Therapeutix during the 4th quarter worth $3,819,000. 59.21% 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-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.