Ocular Therapeutix (NASDAQ:OCUL) Trading 10.7% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 10.7% during mid-day trading on Friday . The stock traded as high as $4.69 and last traded at $4.65. 2,715,312 shares traded 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

Several analysts have issued reports on the stock. Bank of America assumed coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 price target 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 set a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. Piper Sandler upped their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Ocular Therapeutix Price Performance

The company has a market capitalization of $734.05 million, a P/E ratio of -3.80 and a beta of 1.30. The company’s 50-day moving average price is $8.57 and its two-hundred day moving average price is $5.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The company had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. As a group, sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Donald Notman sold 6,433 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the transaction, the chief financial officer now owns 139,932 shares in the company, valued at $692,663.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,366 shares of company stock worth $194,862. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds have recently bought and sold shares of OCUL. Trust Co. of Vermont increased its holdings in Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Rafferty Asset Management LLC bought a new position in Ocular Therapeutix in the 3rd quarter valued at about $37,000. SG Americas Securities LLC bought a new position in Ocular Therapeutix in the 3rd quarter valued at about $38,000. China Universal Asset Management Co. Ltd. increased its holdings in Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 7,152 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Ocular Therapeutix by 142.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 5,730 shares during the period. 59.21% of the stock is owned by institutional investors.

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.