Ocular Therapeutix (NASDAQ:OCUL) Trading 10.7% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price shot up 10.7% during mid-day trading on Friday . The company traded as high as $4.69 and last traded at $4.65. 2,715,312 shares changed hands during trading, an increase of 24% from the average session volume of 2,193,822 shares. The stock had previously closed at $4.20.

Analysts Set New Price Targets

OCUL has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. Bank of America began coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price on the stock. StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. Finally, Piper Sandler boosted their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Ocular Therapeutix Price Performance

The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average price is $8.63 and its 200 day moving average price is $5.36. The firm has a market cap of $734.05 million, a price-to-earnings ratio of -3.80 and a beta of 1.30.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The firm had revenue of $14.80 million during the quarter, compared to analysts’ expectations of $15.31 million. Equities research analysts predict that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now directly owns 92,767 shares in the company, valued at approximately $459,196.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, General Counsel Philip C. Strassburger sold 6,831 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $33,813.45. Following the sale, the general counsel now owns 109,218 shares of the company’s stock, valued at approximately $540,629.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the transaction, the insider now owns 92,767 shares of the company’s stock, valued at $459,196.65. The disclosure for this sale can be found here. Insiders sold a total of 39,366 shares of company stock valued at $194,862 over the last ninety days. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC bought a new position in shares of Ocular Therapeutix in the first quarter valued at approximately $264,000. Trust Co. of Vermont boosted its stake in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Virtu Financial LLC acquired a new position in Ocular Therapeutix in the fourth quarter worth $277,000. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix during the fourth quarter worth $3,122,000. Finally, Artia Global Partners LP acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $1,962,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.