Ocular Therapeutix (NASDAQ:OCUL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL - Free Report) in a research note published on Tuesday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company's stock.

Several other equities research analysts have also issued reports on the company. HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 price objective for the company. Finally, JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix presently has an average rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Price Performance

NASDAQ OCUL traded up $0.70 during trading hours on Tuesday, hitting $7.11. The company had a trading volume of 1,589,232 shares, compared to its average volume of 1,567,917. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.39 and a beta of 1.49. Ocular Therapeutix has a 52 week low of $4.06 and a 52 week high of $11.78. The firm has a 50 day simple moving average of $7.24 and a 200 day simple moving average of $8.58.

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

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald Notman sold 6,301 shares of the firm'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 completion of the transaction, the insider now owns 204,563 shares in the company, valued at $1,603,773.92. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of 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 acquiring an additional 895,304 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Ocular Therapeutix by 146.6% in the third 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 last quarter. Millennium Management LLC purchased a new position in Ocular Therapeutix during the 4th quarter valued at about $3,819,000. FMR LLC raised its position in Ocular Therapeutix by 7,098.7% during the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company's stock valued at $3,779,000 after purchasing an additional 428,335 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Ocular Therapeutix by 26.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock worth $11,398,000 after buying an additional 278,610 shares during the period. 59.21% of the stock is currently owned by 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.