Ocular Therapeutix (NASDAQ:OCUL) Trading Up 10.2% – Here’s What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was up 10.2% on Friday . The company traded as high as $9.73 and last traded at $9.7660. Approximately 3,638,107 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 5,832,654 shares. The stock had previously closed at $8.86.

Wall Street Analyst Weigh In

OCUL has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. Needham & Company LLC decreased their target price on Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Thursday, February 5th. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.78.

Ocular Therapeutix Stock Performance

The firm has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $10.72. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.14 billion, a PE ratio of -6.82 and a beta of 0.95.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The business had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The business’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.29) EPS. On average, research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sanjay Nayak sold 10,348 shares of Ocular Therapeutix stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the transaction, the insider directly owned 332,412 shares of the company’s stock, valued at $3,005,004.48. The trade was a 3.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pravin Dugel sold 20,056 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $166,063.68. Following the completion of the sale, the insider owned 3,013,022 shares of the company’s stock, valued at approximately $24,947,822.16. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 197,221 shares of company stock valued at $1,754,805 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after buying an additional 5,156 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Ocular Therapeutix during the 1st quarter worth approximately $248,000. Creative Planning grew its holdings in Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 3,791 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ocular Therapeutix by 110.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock valued at $6,608,000 after acquiring an additional 374,269 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Ocular Therapeutix by 57.9% during the 2nd quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 6,855 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.