Ocular Therapeutix (NASDAQ:OCUL) Shares Up 9.7% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares traded up 9.7% during mid-day trading on Tuesday . The stock traded as high as $8.39 and last traded at $8.39. 303,469 shares were traded during trading, a decline of 80% from the average session volume of 1,548,098 shares. The stock had previously closed at $7.65.

Wall Street Analysts Forecast Growth

OCUL has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Needham & Company LLC assumed coverage on Ocular Therapeutix in a research note on Tuesday. They issued a “buy” rating and a $15.00 target price on the stock. Finally, JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.29.

Ocular Therapeutix Trading Down 0.8 %

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 cap of $1.33 billion, a PE ratio of -6.33 and a beta of 1.34. The company has a 50-day simple moving average of $7.72 and a 200 day simple moving average of $8.84.

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

Insider Buying and Selling

In related news, insider Donald Notman sold 6,301 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the transaction, the insider now owns 204,563 shares of the company’s stock, valued at $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This represents 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. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after buying an additional 660,080 shares in the last quarter. Patient Square Capital LP acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at approximately $2,049,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Ocular Therapeutix in the 3rd quarter worth approximately $4,288,000. FMR LLC grew 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 valued at $3,779,000 after purchasing an additional 428,335 shares during the last quarter. Finally, Knoll Capital Management LLC increased its position in shares of Ocular Therapeutix by 199.6% in the third quarter. Knoll Capital Management LLC now owns 600,400 shares of the biopharmaceutical company’s stock valued at $5,223,000 after buying an additional 400,000 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.