Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) saw strong trading volume on Friday . 984,482 shares traded hands during trading, an increase of 196% from the previous session’s volume of 332,887 shares.The stock last traded at $5.60 and had previously closed at $4.91.
A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, September 25th. ValuEngine cut Ocular Therapeutix from a “sell” rating to a “strong sell” rating in a report on Thursday, September 21st. Zacks Investment Research cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Guggenheim assumed coverage on Ocular Therapeutix in a report on Monday, October 23rd. They set a “buy” rating and a $12.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Ocular Therapeutix has an average rating of “Hold” and an average target price of $20.67.
The firm has a market capitalization of $162.72, a PE ratio of -2.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.78 and a current ratio of 4.79.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.54). The firm had revenue of $523.00 million during the quarter, compared to analyst estimates of $0.52 million. Ocular Therapeutix had a negative return on equity of 126.31% and a negative net margin of 3,241.19%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.39) earnings per share. research analysts predict that Ocular Therapeutix Inc will post -2.37 earnings per share for the current year.
In other news, insider Daniel M. Bollag acquired 24,700 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $97,071.00. Following the completion of the transaction, the insider now directly owns 24,700 shares in the company, valued at approximately $97,071. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Amarpreet Sawhney acquired 19,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $5.18 per share, with a total value of $98,420.00. Following the transaction, the chairman now owns 696,390 shares of the company’s stock, valued at $3,607,300.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 69,500 shares of company stock valued at $304,781. Company insiders own 26.10% of the company’s stock.
Several institutional investors have recently modified their holdings of OCUL. Voya Investment Management LLC purchased a new position in shares of Ocular Therapeutix during the second quarter valued at about $102,000. Nationwide Fund Advisors grew its position in Ocular Therapeutix by 10.8% in the second quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,204 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in Ocular Therapeutix in the second quarter worth about $167,000. New York State Common Retirement Fund grew its position in Ocular Therapeutix by 45.3% in the second quarter. New York State Common Retirement Fund now owns 18,600 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 5,799 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Ocular Therapeutix by 24.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 3,650 shares in the last quarter. Hedge funds and other institutional investors own 52.94% of the company’s stock.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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