By otakuyassine3@gmail.com 
Needham & Company LLC initiated coverage on shares of Ocular Therapeutix (NASDAQ:OCUL – Free Report) in a research report released on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $15.00 target price on the biopharmaceutical company’s stock.
Other analysts have also issued reports about the company. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.
Check Out Our Latest Stock Report on OCUL
Ocular Therapeutix Stock Performance
Shares of Ocular Therapeutix stock opened at $8.51 on Tuesday. 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 firm has a market cap of $1.35 billion, a P/E ratio of -6.45 and a beta of 1.34. The firm has a 50 day simple moving average of $7.73 and a 200 day simple moving average of $8.84. Ocular Therapeutix has a fifty-two week low of $4.06 and a fifty-two week high of $11.78.
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 the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million during the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.
Insider Transactions at Ocular Therapeutix
In other news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares of the company’s stock, valued at $1,603,773.92. The trade was a 2.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. This trade represents a 0.61 % 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 company insiders.
Hedge Funds Weigh In On Ocular Therapeutix
Institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at approximately $28,000. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $43,000. AlphaQuest LLC acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $53,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 8,446 shares during the period. Finally, Walleye Capital LLC acquired a new position in Ocular Therapeutix in the 4th quarter worth $90,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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