Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) Price Target at $15.83

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.83.

Several research analysts have commented on OCUL shares. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. JMP Securities decreased their target price on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Ocular Therapeutix in a research report on Friday, June 14th. TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 21st.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ocular Therapeutix by 757.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,044 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 28,309 shares during the last quarter. Banco Santander S.A. boosted its stake in Ocular Therapeutix by 81.3% during the second quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock worth $2,581,000 after buying an additional 169,172 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ocular Therapeutix by 49.6% during the second quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company’s stock worth $3,390,000 after buying an additional 164,383 shares in the last quarter. Deltec Asset Management LLC boosted its stake in Ocular Therapeutix by 9.6% during the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after buying an additional 226,181 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new stake in Ocular Therapeutix during the second quarter worth $5,130,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Stock Down 3.1 %

OCUL stock opened at $8.17 on Thursday. The company has a quick ratio of 21.29, a current ratio of 21.39 and a debt-to-equity ratio of 0.16. Ocular Therapeutix has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The firm’s 50-day simple moving average is $6.47 and its 200 day simple moving average is $6.85. The stock has a market cap of $1.27 billion, a PE ratio of -6.00 and a beta of 1.30.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. The firm had revenue of $14.77 million during the quarter, compared to analyst estimates of $15.43 million. As a group, sell-side analysts predict that Ocular Therapeutix will post -0.98 EPS for the current year.

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.