Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.71.

A number of research analysts have recently issued reports on OCUL shares. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $22.00 target price on the stock.

Insider Transactions at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the sale, the insider now owns 269,059 shares in the company, valued at $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds have recently added to or reduced their stakes in OCUL. Charles Schwab Investment Management Inc. grew its stake in shares of Ocular Therapeutix by 146.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company's stock worth $9,661,000 after purchasing an additional 660,080 shares during the period. Banco Santander S.A. boosted its holdings in Ocular Therapeutix by 81.3% during the second quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company's stock worth $2,581,000 after buying an additional 169,172 shares in the last quarter. Rhumbline Advisers increased its holdings in Ocular Therapeutix by 39.1% in the second quarter. Rhumbline Advisers now owns 211,301 shares of the biopharmaceutical company's stock valued at $1,445,000 after buying an additional 59,345 shares in the last quarter. Patient Square Capital LP purchased a new position in Ocular Therapeutix in the third quarter valued at $2,049,000. Finally, Bank of New York Mellon Corp raised its position in shares of Ocular Therapeutix by 49.6% in the second quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company's stock worth $3,390,000 after acquiring an additional 164,383 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Up 0.6 %

OCUL traded up $0.05 on Friday, hitting $8.50. The company had a trading volume of 1,431,144 shares, compared to its average volume of 1,767,917. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.44 and a beta of 1.19. 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 moving average price of $9.98 and a 200-day moving average price of $8.62. Ocular Therapeutix has a 12-month low of $3.76 and a 12-month high of $11.77.

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.