HC Wainwright Reiterates “Buy” Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on OCUL. StockNews.com cut Ocular Therapeutix from a hold rating to a sell rating in a research report on Friday, April 5th. JMP Securities reiterated a market outperform rating and set a $24.00 price target on shares of Ocular Therapeutix in a report on Tuesday, April 16th. Bank of America assumed coverage on Ocular Therapeutix in a report on Friday, February 9th. They issued a buy rating and a $15.00 price objective on the stock. Finally, Piper Sandler lifted their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an overweight rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $17.60.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $5.08 on Friday. The business’s 50-day moving average is $8.75 and its 200-day moving average is $5.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The company has a market capitalization of $754.30 million, a price-to-earnings ratio of -4.02 and a beta of 1.31. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Equities research analysts expect that Ocular Therapeutix will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now directly owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the completion of the transaction, the chief executive officer now owns 427,943 shares in the company, valued at $2,118,317.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OCUL. Franklin Resources Inc. bought a new position in Ocular Therapeutix during the fourth quarter worth $20,071,000. Deltec Asset Management LLC increased its holdings in shares of Ocular Therapeutix by 18.5% during the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after purchasing an additional 381,810 shares during the period. Sectoral Asset Management Inc. raised its position in shares of Ocular Therapeutix by 20.8% during the third quarter. Sectoral Asset Management Inc. now owns 969,350 shares of the biopharmaceutical company’s stock valued at $3,044,000 after buying an additional 166,670 shares during the last quarter. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $3,122,000. Finally, Artia Global Partners LP acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $1,962,000. 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.