Key Points
- Insider sale: Ocular Therapeutix insider Pravin Dugel sold 21,156 shares on May 26 at an average price of $8.20, worth about $173,479. The filing says the sale was part of a pre-arranged Rule 10b5-1 plan and was made to cover tax withholding tied to equity vesting.
- Stock and valuation snapshot: OCUL opened at $9.15 and has a market cap of about $2.0 billion. The stock has traded between $6.23 and $16.44 over the past 52 weeks, with a 50-day moving average of $8.79 and a 200-day moving average of $10.23.
- Analyst sentiment remains bullish: The stock currently carries a Moderate Buy consensus, with 12 analysts rating it a Buy and an average price target of $23.78. Recent firm targets ranged from $18 to $30, including buy or outperform calls from HC Wainwright, Chardan, Needham, Jefferies, and RBC.
Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Sanjay Nayak sold 1,858 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $15,235.60. Following the sale, the insider owned 328,795 shares of the company's stock, valued at approximately $2,696,119. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.
Ocular Therapeutix Price Performance
Shares of OCUL opened at $9.15 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of -6.27 and a beta of 0.93. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $10.23. Ocular Therapeutix, Inc. has a 1-year low of $6.23 and a 1-year high of $16.44.
Institutional Investors Weigh In On Ocular Therapeutix
Several hedge funds and other institutional investors have recently modified their holdings of OCUL. Steward Partners Investment Advisory LLC increased its stake in shares of Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Ocular Therapeutix in the fourth quarter worth about $31,000. Hilton Head Capital Partners LLC raised its stake in shares of Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 1,053 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix in the fourth quarter worth about $61,000. Finally, KBC Group NV bought a new position in shares of Ocular Therapeutix in the fourth quarter worth about $78,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on OCUL. William Blair reiterated an "outperform" rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. HC Wainwright reiterated a "buy" rating and set a $21.00 target price on shares of Ocular Therapeutix in a research note on Monday, April 13th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of Ocular Therapeutix from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Twelve equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.78.
View Our Latest Research Report on OCUL
Ocular Therapeutix Company Profile
(
Get Free Report)
Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.
The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.
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