Ocular Therapeutix (NASDAQ:OCUL) Price Target Raised to $20.00 at TD Cowen

Ocular Therapeutix (NASDAQ:OCUL) had its price target boosted by TD Cowen from $14.00 to $20.00 in a report issued on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. Needham & Company LLC boosted their price objective on shares of Ocular Therapeutix from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday. Robert W. Baird boosted their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Ocular Therapeutix Stock Up 3.0%

Ocular Therapeutix stock opened at $11.82 on Thursday. Ocular Therapeutix has a fifty-two week low of $5.78 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. The stock’s fifty day moving average is $12.10 and its two-hundred day moving average is $10.35. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -9.23 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was down 17.7% on a year-over-year basis. Analysts predict that Ocular Therapeutix will post -0.98 EPS for the current fiscal year.

Insider Activity

In other news, insider Peter Kaiser sold 9,653 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider owned 194,440 shares in the company, valued at approximately $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pravin Dugel sold 21,494 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $258,787.76. Following the transaction, the insider directly owned 3,227,244 shares of the company’s stock, valued at $38,856,017.76. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,806 shares of company stock worth $727,648. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC acquired a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $132,000. RWC Asset Management LLP acquired a new position in shares of Ocular Therapeutix during the third quarter valued at $190,000. SG Americas Securities LLC increased its holdings in shares of Ocular Therapeutix by 431.8% during the third quarter. SG Americas Securities LLC now owns 55,496 shares of the biopharmaceutical company’s stock valued at $649,000 after purchasing an additional 45,061 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Ocular Therapeutix during the third quarter valued at about $298,000. Finally, Osaic Holdings Inc. lifted its holdings in Ocular Therapeutix by 19,194.3% in the second quarter. Osaic Holdings Inc. now owns 67,530 shares of the biopharmaceutical company’s stock worth $627,000 after purchasing an additional 67,180 shares during the period. 59.21% of the stock is owned by 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.