Ocular Therapeutix (NASDAQ:OCUL) Trading Up 5.4% – Here’s What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price traded up 5.4% on Monday . The company traded as high as $8.11 and last traded at $8.13. 157,285 shares changed hands during trading, a decline of 89% from the average session volume of 1,475,954 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OCUL. William Blair began coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an “outperform” rating for the company. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, April 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.38.

Ocular Therapeutix Stock Up 3.4 %

The firm has a 50 day moving average of $7.26 and a two-hundred day moving average of $8.47. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.04 and a beta of 1.49. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million for 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 anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, 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 completion of the sale, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald Notman sold 6,301 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock valued at $283,772 over the last three months. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently bought and sold shares of OCUL. Point72 Asset Management L.P. raised its position in shares of Ocular Therapeutix by 43.9% in the 4th 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. Peregrine Capital Management LLC acquired a new stake in Ocular Therapeutix during the 1st quarter worth $6,212,000. Millennium Management LLC purchased a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $3,819,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ocular Therapeutix in the 1st quarter valued at approximately $2,505,000. Finally, Artisan Partners Limited Partnership boosted its position in shares of Ocular Therapeutix by 26.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company’s stock worth $11,398,000 after purchasing an additional 278,610 shares during the period. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

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.