HC Wainwright Reaffirms Buy Rating for Ocular Therapeutix (NASDAQ:OCUL)

Ocular Therapeutix (NASDAQ:OCUL)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $15.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 152.95% from the stock’s current price.

Ocular Therapeutix Stock Down 16.9 %

Shares of Ocular Therapeutix stock opened at $5.93 on Tuesday. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix has a 12-month low of $4.06 and a 12-month high of $11.77. The company has a market cap of $932.30 million, a P/E ratio of -4.49 and a beta of 1.22. The company’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $8.90.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. Research analysts anticipate that Ocular Therapeutix will post -0.98 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares in the company, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock valued at $283,772 in the last three months. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its position in Ocular Therapeutix by 43.9% during the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock valued at $25,073,000 after purchasing an additional 895,304 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ocular Therapeutix by 146.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after buying an additional 660,080 shares during the last quarter. Braidwell LP grew its holdings in shares of Ocular Therapeutix by 36.3% during the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after buying an additional 596,000 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Ocular Therapeutix during the third quarter valued at approximately $4,288,000. Finally, Millennium Management LLC purchased a new position in Ocular Therapeutix in the 4th quarter worth approximately $3,819,000. Hedge funds and other 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.