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

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.71.

A number of equities analysts have commented on OCUL shares. Robert W. Baird reduced their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Scotiabank started coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $22.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, November 15th.

Ocular Therapeutix Trading Up 7.3 %

Ocular Therapeutix stock opened at $9.75 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The business's fifty day moving average is $9.90 and its two-hundred day moving average is $8.17. Ocular Therapeutix has a 52 week low of $2.14 and a 52 week high of $11.77.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC increased its holdings in Ocular Therapeutix by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company's stock valued at $3,860,000 after purchasing an additional 1,168 shares during the last quarter. Amalgamated Bank increased its holdings in Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. HighVista Strategies LLC increased its holdings in Ocular Therapeutix by 5.1% in the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company's stock valued at $566,000 after purchasing an additional 3,168 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Ocular Therapeutix by 36.9% in the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company's stock valued at $119,000 after purchasing an additional 4,695 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.

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.