In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Ocular Therapeutix (OCUL), with a price target of $10.00. The company’s shares closed last Monday at $7.55.
According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.8% and a 48.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, HTG Molecular Diagnostics, and EyePoint Pharmaceuticals.
Currently, the analyst consensus on Ocular Therapeutix is a Strong Buy with an average price target of $11.67, which is a 49.4% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $11.00 price target.
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Based on Ocular Therapeutix’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.61 million and GAAP net loss of $21.51 million. In comparison, last year the company earned revenue of $492K and had a GAAP net loss of $17.12 million.
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.
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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.
