HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

HC Wainwright reaffirmed their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $15.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on OCUL. Robert W. Baird decreased their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Scotiabank initiated coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $9.49 on Tuesday. Ocular Therapeutix has a one year low of $2.88 and a one year high of $11.77. The company has a 50-day moving average of $10.02 and a two-hundred day moving average of $8.33. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -7.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Insider Buying and Selling

In related news, insider Jeffrey S. Heier sold 2,948 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the transaction, the insider now owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deltec Asset Management LLC raised its position 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 valued at $17,717,000 after acquiring an additional 226,181 shares in the last quarter. Vanguard Group Inc. raised its position 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 valued at $65,840,000 after acquiring an additional 2,117,029 shares in the last quarter. Banco Santander S.A. raised its position 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 valued at $2,581,000 after acquiring an additional 169,172 shares in the last quarter. Rhumbline Advisers raised its position in Ocular Therapeutix by 39.1% during the second quarter. Rhumbline Advisers now owns 211,301 shares of the biopharmaceutical company’s stock valued at $1,445,000 after acquiring an additional 59,345 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $3,390,000 after acquiring an additional 164,383 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

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.