Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) have been given an average recommendation of “Hold” by the nine brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.25.
Several equities research analysts have issued reports on the company. BidaskClub raised Ocular Therapeutix from a “hold” rating to a “buy” rating in a report on Friday, June 15th. Cantor Fitzgerald set a $22.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research raised Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Wednesday, July 11th. ValuEngine raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Finally, JMP Securities set a $9.00 price target on Ocular Therapeutix and gave the company a “buy” rating in a report on Monday, August 20th.
Shares of NASDAQ:OCUL traded down $0.17 during midday trading on Wednesday, hitting $6.20. The stock had a trading volume of 315,553 shares, compared to its average volume of 384,513. Ocular Therapeutix has a 12 month low of $3.30 and a 12 month high of $8.28. The company has a current ratio of 4.92, a quick ratio of 4.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $254.71 million, a PE ratio of -2.82 and a beta of 1.21.
In other news, insider Antony C. Mattessich bought 16,900 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was bought at an average price of $6.23 per share, with a total value of $105,287.00. Following the completion of the acquisition, the insider now owns 37,900 shares of the company’s stock, valued at $236,117. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Antony C. Mattessich bought 20,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of $5.95 per share, with a total value of $119,000.00. Following the acquisition, the chief executive officer now directly owns 57,900 shares of the company’s stock, valued at approximately $344,505. The disclosure for this purchase can be found here. Insiders have bought 49,400 shares of company stock valued at $302,912 in the last three months. Insiders own 15.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Summer Road LLC acquired a new position in Ocular Therapeutix in the first quarter valued at about $19,709,000. Opaleye Management Inc. acquired a new position in Ocular Therapeutix in the second quarter valued at about $7,499,000. Deltec Asset Management LLC raised its stake in Ocular Therapeutix by 173.6% in the first quarter. Deltec Asset Management LLC now owns 586,239 shares of the biopharmaceutical company’s stock valued at $3,816,000 after purchasing an additional 372,000 shares in the last quarter. BlackRock Inc. raised its stake in Ocular Therapeutix by 19.6% in the first quarter. BlackRock Inc. now owns 1,696,612 shares of the biopharmaceutical company’s stock valued at $11,046,000 after purchasing an additional 278,035 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Ocular Therapeutix by 24.1% in the first quarter. Northern Trust Corp now owns 324,526 shares of the biopharmaceutical company’s stock valued at $2,112,000 after purchasing an additional 62,993 shares in the last quarter. 56.65% of the stock is owned by 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 platform technology. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.
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