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H.C. Wainwright Thinks Ocular Therapeutix’s Stock is Going to Recover


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Ocular Therapeutix (OCUL), with a price target of $12. The company’s shares closed yesterday at $4, close to its 52-week low of $3.55.

Selvaraju observed:

“Our price target is derived from a market value of the firm at $573M, which includes a discounted cash flow-based asset value of $580M for DEXTENZA, OTX-TP and ReSure, and excludes projected debt position of $7M at the end of 2019, using a 15% discount rate and 2% terminal growth rate, and assuming 47.7M shares.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.3% and a 26.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Currently, the analyst consensus on Ocular Therapeutix is a Strong Buy with an average price target of $14.60.

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The company has a one-year high of $8.28 and a one-year low of $3.55. Currently, Ocular Therapeutix has an average volume of 555.9K.

Based on the recent corporate insider activity of 6 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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