Ocular Therapeutix (NASDAQ:OCUL) Earns Outperform Rating from Analysts at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada started coverage on shares of Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) in a research report issued on Tuesday, MarketBeat reports. The firm set an "outperform" rating and a $17.00 price target on the biopharmaceutical company's stock. Royal Bank of Canada's target price points to a potential upside of 126.36% from the company's current price.

A number of other research analysts have also recently commented on OCUL. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Needham & Company LLC assumed coverage on Ocular Therapeutix in a research report on Tuesday, March 11th. They set a "buy" rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Stock Up 0.9 %

Shares of OCUL traded up $0.07 on Tuesday, reaching $7.51. The stock had a trading volume of 1,964,479 shares, compared to its average volume of 1,510,066. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.69 and a beta of 1.34. 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 company has a 50-day simple moving average of $7.57 and a 200-day simple moving average of $8.78. Ocular Therapeutix has a 12-month low of $4.06 and a 12-month high of $11.78.

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Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released 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 during 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%. Sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction 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 of the company's stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, the insider now directly owns 193,444 shares of the company's stock, valued at $1,510,797.64. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,895 shares of company stock valued at $283,772. Corporate insiders own 3.50% of the company's stock.

Institutional Trading of Ocular Therapeutix

Several large investors have recently modified their holdings of OCUL. Intech Investment Management LLC bought a new stake in shares of Ocular Therapeutix in the third quarter worth $422,000. Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 660,080 shares during the period. The Manufacturers Life Insurance Company lifted its position in Ocular Therapeutix by 11.3% during the third quarter. The Manufacturers Life Insurance Company now owns 130,202 shares of the biopharmaceutical company's stock valued at $1,133,000 after purchasing an additional 13,238 shares in the last quarter. FMR LLC lifted its position in Ocular Therapeutix by 7,098.7% during the third 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 in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ocular Therapeutix during the third quarter valued at $544,000. Institutional investors own 59.21% of the company's stock.

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.