Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 4.9% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 4.9% during trading on Wednesday . The company traded as high as $6.80 and last traded at $6.86. 365,431 shares traded hands during trading, a decline of 76% from the average session volume of 1,540,876 shares. The stock had previously closed at $6.54.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several research reports. Needham & Company LLC assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 11th. They set a “buy” rating and a $15.00 price target for the company. JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Royal Bank of Canada assumed coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Trading Up 8.5 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The firm has a 50-day moving average of $7.48 and a 200-day moving average of $8.73. The firm has a market capitalization of $1.13 billion, a P/E ratio of -5.37 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In related news, insider Donald Notman sold 11,119 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently modified their holdings of OCUL. Point72 Asset Management L.P. raised its stake in Ocular Therapeutix by 43.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after buying an additional 895,304 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares during the period. Polar Asset Management Partners Inc. purchased a new position in shares of Ocular Therapeutix in the 3rd quarter valued at approximately $4,288,000. Millennium Management LLC purchased a new stake in Ocular Therapeutix in the fourth quarter worth $3,819,000. Finally, FMR LLC raised its holdings in Ocular Therapeutix by 7,098.7% in the third quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock worth $3,779,000 after purchasing an additional 428,335 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

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.