HC Wainwright set a $12.00 target price on Ocular Therapeutix (NASDAQ:OCUL) in a research report released on Friday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also weighed in on OCUL. Cantor Fitzgerald upped their price objective on shares of Ocular Therapeutix from $22.00 to $24.00 and gave the company an overweight rating in a report on Monday, December 3rd. JMP Securities reiterated a buy rating and set a $9.00 price objective on shares of Ocular Therapeutix in a report on Thursday, October 11th. BidaskClub lowered shares of Ocular Therapeutix from a hold rating to a sell rating in a report on Tuesday, October 9th. ValuEngine upgraded shares of Ocular Therapeutix from a sell rating to a hold rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Ocular Therapeutix from a hold rating to a buy rating and set a $6.25 target price on the stock in a report on Wednesday, November 14th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Ocular Therapeutix has an average rating of Buy and an average target price of $12.38.
Shares of NASDAQ OCUL opened at $3.95 on Friday. Ocular Therapeutix has a 1-year low of $3.55 and a 1-year high of $8.28. The stock has a market cap of $171.32 million, a PE ratio of -1.80 and a beta of 2.09. The company has a current ratio of 4.35, a quick ratio of 4.34 and a debt-to-equity ratio of 0.18.
In other news, insider Kevin F. Hanley acquired 10,000 shares of Ocular Therapeutix stock in a transaction on Monday, December 10th. The stock was acquired at an average cost of $5.60 per share, with a total value of $56,000.00. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $56,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel M. Bollag acquired 17,400 shares of Ocular Therapeutix stock in a transaction on Thursday, December 6th. The stock was purchased at an average cost of $5.76 per share, with a total value of $100,224.00. The disclosure for this purchase can be found here. Insiders acquired a total of 37,400 shares of company stock valued at $211,224 over the last ninety days. 15.90% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc grew its position in Ocular Therapeutix by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 1,427,533 shares of the biopharmaceutical company’s stock worth $9,821,000 after purchasing an additional 92,335 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ocular Therapeutix by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,427,533 shares of the biopharmaceutical company’s stock valued at $9,821,000 after acquiring an additional 92,335 shares during the period. Teachers Advisors LLC grew its position in shares of Ocular Therapeutix by 24.1% during the 3rd quarter. Teachers Advisors LLC now owns 67,202 shares of the biopharmaceutical company’s stock valued at $462,000 after acquiring an additional 13,061 shares during the period. Man Group plc bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $3,461,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $200,000. 52.42% of the stock is owned by institutional investors and hedge funds.
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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