Ocular Therapeutix (NASDAQ:OCUL) Sets New 12-Month High – Here’s What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.77 and last traded at $11.68, with a volume of 99569 shares traded. The stock had previously closed at $11.14.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Robert W. Baird reduced their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. Finally, Scotiabank started coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Ocular Therapeutix Price Performance

The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -8.37 and a beta of 1.29. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $9.37 and a 200 day simple moving average of $7.57.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.27) earnings per share. On average, equities research analysts forecast that Ocular Therapeutix, Inc. will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently modified their holdings of the stock. Deltec Asset Management LLC grew its stake in Ocular Therapeutix by 9.6% in the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after purchasing an additional 226,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ocular Therapeutix by 1,142.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after buying an additional 609,328 shares during the last quarter. Vanguard Group Inc. raised its position in Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after acquiring an additional 2,117,029 shares in the last quarter. Cetera Advisors LLC lifted its stake in Ocular Therapeutix by 1,455.0% in the first quarter. Cetera Advisors LLC now owns 723,490 shares of the biopharmaceutical company’s stock valued at $6,584,000 after acquiring an additional 676,963 shares during the last quarter. Finally, Banco Santander S.A. grew its position in Ocular Therapeutix by 81.3% in the second quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock worth $2,581,000 after acquiring an additional 169,172 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.