Ocular Therapeutix’s (OCUL) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Ocular Therapeutix (NASDAQ:OCUL) in a report published on Wednesday,Benzinga reports. The firm currently has a $23.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Ocular Therapeutix in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Robert W. Baird boosted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

Ocular Therapeutix Trading Down 1.5%

Shares of Ocular Therapeutix stock opened at $9.99 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The company has a market capitalization of $2.19 billion, a P/E ratio of -7.04 and a beta of 0.97. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. The company’s fifty day moving average is $9.88 and its two-hundred day moving average is $9.38.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. The business had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Analysts forecast that Ocular Therapeutix will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $32,686.95. Following the sale, the insider owned 264,378 shares of the company’s stock, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Heier sold 3,296 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the transaction, the insider owned 318,326 shares of the company’s stock, valued at approximately $3,431,554.28. This represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 29,877 shares of company stock worth $321,827. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new stake in shares of Ocular Therapeutix in the second quarter valued at $401,000. Integrated Wealth Concepts LLC purchased a new stake in Ocular Therapeutix during the 2nd quarter worth about $51,000. NewEdge Advisors LLC raised its stake in Ocular Therapeutix by 21.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,979 shares during the last quarter. Squarepoint Ops LLC raised its stake in Ocular Therapeutix by 44.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock valued at $13,904,000 after purchasing an additional 435,156 shares during the last quarter. Finally, Second Line Capital LLC boosted its stake in shares of Ocular Therapeutix by 20.9% during the 2nd quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock worth $6,271,000 after purchasing an additional 110,350 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.