Ocular Therapeutix (NASDAQ:OCUL) Given Buy Rating at Chardan Capital

Chardan Capital restated their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $21.00 price objective on the biopharmaceutical company’s stock.

OCUL has been the topic of several other research reports. Cowen reiterated a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. JMP Securities upped their price target on Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 1st. Robert W. Baird increased their price target on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. HC Wainwright boosted their price objective on Ocular Therapeutix from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Needham & Company LLC increased their target price on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $10.81 on Wednesday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -8.45 and a beta of 1.53. Ocular Therapeutix has a 52-week low of $5.78 and a 52-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 50 day moving average price is $12.02 and its two-hundred day moving average price is $10.48.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The company had revenue of $14.54 million during the quarter, compared to analyst estimates of $14.57 million. On average, equities analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Activity

In other news, insider Todd Anderman sold 11,132 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the transaction, the insider directly owned 87,568 shares of the company’s stock, valued at $1,080,589.12. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,494 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $258,787.76. Following the sale, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,806 shares of company stock valued at $727,648. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. purchased a new position in shares of Ocular Therapeutix in the 1st quarter worth about $79,000. Graypoint LLC purchased a new stake in Ocular Therapeutix during the first quarter worth about $148,000. XTX Topco Ltd raised its position in Ocular Therapeutix by 95.0% in the first quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company’s stock worth $166,000 after acquiring an additional 11,012 shares during the period. Banco Santander S.A. boosted its stake in Ocular Therapeutix by 21.8% in the first quarter. Banco Santander S.A. now owns 184,048 shares of the biopharmaceutical company’s stock valued at $1,349,000 after acquiring an additional 32,941 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Ocular Therapeutix during the 1st quarter valued at approximately $3,035,000. 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.