Ocular Therapeutix (NASDAQ:OCUL) Trading Up 3.3% – Should You Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares traded up 3.3% on Tuesday . The stock traded as high as $6.08 and last traded at $6.13. 252,184 shares were traded during trading, a decline of 84% from the average session volume of 1,553,186 shares. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Ocular Therapeutix Stock Up 9.0 %

The stock’s 50-day simple moving average is $7.84 and its 200-day simple moving average is $8.90. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.02 billion, a P/E ratio of -4.88 and a beta of 1.22.

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

Insider Transactions at Ocular Therapeutix

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

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the company. Deep Track Capital LP raised its stake in shares of Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company’s stock valued at $109,622,000 after buying an additional 114,822 shares during the period. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock valued at $72,453,000 after acquiring an additional 99,730 shares during the period. Point72 Asset Management L.P. lifted its holdings in Ocular Therapeutix by 43.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock valued at $25,073,000 after purchasing an additional 895,304 shares during the last quarter. Deltec Asset Management LLC lifted its holdings in Ocular Therapeutix by 0.6% during the fourth quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company’s stock valued at $22,344,000 after purchasing an additional 16,300 shares during the last quarter. Finally, Braidwell LP boosted its position in Ocular Therapeutix by 36.3% during the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after purchasing an additional 596,000 shares during the period. 59.21% of the stock is owned by institutional investors.

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.