Analysts Set Ocular Therapeutix, Inc. (NASDAQ:OCUL) PT at $16.71

Ocular Therapeutix, Inc. (NASDAQ:OCUL) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.71.

Several research firms have recently issued reports on OCUL. HC Wainwright raised their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank began coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company. Finally, Robert W. Baird dropped their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th.

Ocular Therapeutix Stock Down 1.7 %

Shares of NASDAQ:OCUL opened at $9.89 on Wednesday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -7.49 and a beta of 1.26. Ocular Therapeutix has a 12 month low of $2.44 and a 12 month high of $11.77. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $9.98 and a 200 day moving average price of $8.28.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares of the company’s stock, valued at $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of OCUL. Barclays PLC boosted its holdings in shares of Ocular Therapeutix by 37.1% in the third quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $4,451,000 after purchasing an additional 138,441 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Ocular Therapeutix by 47.1% in the 3rd quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock worth $4,027,000 after buying an additional 148,310 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Ocular Therapeutix during the 3rd quarter worth $4,288,000. Patient Square Capital LP purchased a new position in shares of Ocular Therapeutix during the third quarter valued at $2,049,000. Finally, HighVista Strategies LLC raised its holdings in shares of Ocular Therapeutix by 5.1% in the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other 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.