H.C. Wainwright Reiterates a Buy Rating on Ocular Therapeutix (OCUL)


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Ocular Therapeutix (OCUL) today and set a price target of $10. The company’s shares closed yesterday at $5.41.

Selvaraju commented:

“Our price target is derived from a market value of the firm at $456M, which includes a discounted cash flow-based asset value of $466M for Dextenza, OTX-TP and ReSure, and excludes projected debt position of $10M at the end of 3Q19, using a 15% discount rate and 2% terminal growth rate, and assuming 46.7M shares outstanding at the end of 3Q19. Probabilities of success ascribed to post-surgical ocular pain and inflammation, allergic conjunctivitis and glaucoma are 80%, 40% and 40%, respectively.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.3% and a 30.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ocular Therapeutix with a $13.75 average price target, implying a 154.2% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $22 price target.

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The company has a one-year high of $8.28 and a one-year low of $3.30. Currently, Ocular Therapeutix has an average volume of 409.6K.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCUL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ocular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline include Dextenza, OTX-TP, and OTX-TIC . The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.

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