Fintel reports that on September 14, 2023, Baird reiterated coverage of Ocular Therapeutix (NASDAQ:OCUL) with a Outperform recommendation.
Analyst Price Forecast Suggests 270.84% Upside
As of August 31, 2023, the average one-year price target for Ocular Therapeutix is 13.39. The forecasts range from a low of 9.09 to a high of $18.90. The average price target represents an increase of 270.84% from its latest reported closing price of 3.61.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ocular Therapeutix is 77MM, an increase of 41.90%. The projected annual non-GAAP EPS is -0.84.
What is the Fund Sentiment?
There are 243 funds or institutions reporting positions in Ocular Therapeutix. This is an increase of 2 owner(s) or 0.83% in the last quarter. Average portfolio weight of all funds dedicated to OCUL is 0.08%, an increase of 0.30%. Total shares owned by institutions increased in the last three months by 7.88% to 44,395K shares. 
The put/call ratio of OCUL is 0.13, indicating a bullish outlook.
What are Other Shareholders Doing?
Summer Road holds 6,122K shares representing 7.71% ownership of the company. No change in the last quarter.
Opaleye Management holds 5,780K shares representing 7.28% ownership of the company. In it's prior filing, the firm reported owning 6,106K shares, representing a decrease of 5.64%. The firm decreased its portfolio allocation in OCUL by 25.98% over the last quarter.
Millennium Management holds 2,397K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 1,037K shares, representing an increase of 56.75%. The firm increased its portfolio allocation in OCUL by 94.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,312K shares representing 2.91% ownership of the company. No change in the last quarter.
Deltec Asset Management holds 1,975K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 1,914K shares, representing an increase of 3.10%. The firm decreased its portfolio allocation in OCUL by 10.58% over the last quarter.
Ocular Therapeutix Background Information
(This description is provided by the company.)
Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix's first commercial drug product, DEXTENZA (dexamethasone ophthalmic insert) 0.4 mg for intracanalicular use, is FDA-approved for the treatment of ocular inflammation and pain following ophthalmic surgery. Ocular Therapeutix has also submitted a Supplemental NDA for DEXTENZA to include the treatment of ocular itching associated with allergic conjunctivitis as an additional approved indication. Ocular Therapeutix's earlier stage development assets currently in Phase 1 clinical trials include OTX-TKI (axitinib intravitreal implant) for the treatment of wet AMD and other retinal diseases and OTX-TIC (travoprost intracameral implant) for the reduction of intraocular pressure in patients with primary open-angle glaucoma or ocular hypertension. Ocular Therapeutix is currently evaluating each of OTX-CSI (cyclosporine intracanalicular insert) for the chronic treatment of dry eye disease and OTX-DED (dexamethasone intracanalicular insert) for the short-term treatment of the signs and symptoms of dry eye disease in Phase 2 clinical trials. Also, in collaboration with Regeneron, OTX-AFS (aflibercept suprachoroidal injection) is in pre-clinical development as an extended-delivery formulation of aflibercept for the treatment of retinal diseases. Ocular Therapeutix's first product, ReSure® Sealant is an FDA-approved device to prevent wound leaks in corneal incisions following cataract surgery.
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