Ocular Therapeutix (NASDAQ:OCUL) Price Target Raised to $15.00

Ocular Therapeutix (NASDAQ:OCUL) had its target price lifted by HC Wainwright from $14.00 to $15.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on OCUL. Robert W. Baird lowered their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $9.16 on Friday. The business’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $8.02. Ocular Therapeutix has a fifty-two week low of $2.05 and a fifty-two week high of $11.77. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -6.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Ocular Therapeutix by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after acquiring an additional 1,168 shares during the period. Amalgamated Bank lifted its stake in shares of Ocular Therapeutix by 37.9% during the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,481 shares during the period. HighVista Strategies LLC lifted its stake in shares of Ocular Therapeutix by 5.1% during the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Ocular Therapeutix by 39.4% during the first quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 3,257 shares during the period. Institutional investors and hedge funds 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.