Ocular Therapeutix, Inc. (NASDAQ:OCUL) Given Average Rating of "Moderate Buy" by Analysts

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.71.

Several analysts recently issued reports on the company. Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $22.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 3rd.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL traded down $0.08 during trading on Thursday, reaching $8.05. 845,847 shares of the stock were exchanged, compared to its average volume of 907,195. Ocular Therapeutix has a 12 month low of $3.76 and a 12 month high of $11.77. The stock has a 50-day moving average price of $9.06 and a 200-day moving average price of $8.94. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.27 billion, a PE ratio of -6.10 and a beta of 1.23.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently made changes to their positions in OCUL. Avoro Capital Advisors LLC increased its stake in Ocular Therapeutix by 12.7% in the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company's stock valued at $55,130,000 after acquiring an additional 911,064 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Ocular Therapeutix during the 3rd quarter worth $24,584,000. Point72 Asset Management L.P. bought a new stake in shares of Ocular Therapeutix during the 2nd quarter worth $18,514,000. Deltec Asset Management LLC boosted its stake in Ocular Therapeutix by 0.4% in the third quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company's stock valued at $22,621,000 after buying an additional 9,808 shares in the last quarter. Finally, Braidwell LP grew its position in Ocular Therapeutix by 36.3% in the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company's stock valued at $19,486,000 after acquiring an additional 596,000 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.