Ocular Therapeutix (NASDAQ:OCUL) Given New $15.00 Price Target at HC Wainwright

Ocular Therapeutix (NASDAQ:OCUL) had its price target raised by HC Wainwright from $14.00 to $15.00 in a research note published on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on OCUL. Robert W. Baird lowered their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Scotiabank began coverage on Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Ocular Therapeutix Stock Down 7.7 %

NASDAQ OCUL traded down $0.76 during midday trading on Friday, hitting $9.16. 1,330,624 shares of the company traded hands, compared to its average volume of 1,860,587. Ocular Therapeutix has a 52 week low of $2.05 and a 52 week high of $11.77. The company’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $8.00. The company has a market cap of $1.43 billion, a PE ratio of -6.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. Avoro Capital Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 12.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after buying an additional 911,064 shares during the period. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the last quarter. Opaleye Management Inc. boosted its position in Ocular Therapeutix by 9.6% during the first quarter. Opaleye Management Inc. now owns 6,653,138 shares of the biopharmaceutical company’s stock worth $60,544,000 after purchasing an additional 583,138 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Ocular Therapeutix in the third quarter valued at $24,584,000. Finally, Point72 Asset Management L.P. acquired a new position in Ocular Therapeutix during the second quarter worth about $18,514,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

About Ocular Therapeutix

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.