Ocular Therapeutix (NASDAQ:OCUL) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.01 and traded as low as $9.02. Ocular Therapeutix shares last traded at $9.14, with a volume of 7,112,587 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OCUL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Robert W. Baird raised their target price on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, December 9th. Finally, Piper Sandler upped their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Ocular Therapeutix Trading Down 8.1%

The company has a debt-to-equity ratio of 0.27, a current ratio of 7.85 and a quick ratio of 7.78. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -6.35 and a beta of 0.93. The business has a fifty day moving average price of $12.14 and a 200 day moving average price of $12.01.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. The company had revenue of $14.54 million for the quarter, compared to the consensus estimate of $14.57 million. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Trading of Ocular Therapeutix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pale Fire Capital SE boosted its position in Ocular Therapeutix by 20.7% in the second quarter. Pale Fire Capital SE now owns 530,135 shares of the biopharmaceutical company’s stock valued at $4,920,000 after buying an additional 90,748 shares in the last quarter. Saturn V Capital Management LP boosted its position in Ocular Therapeutix by 21.8% in the 2nd quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock valued at $6,761,000 after buying an additional 130,385 shares during the last quarter. Truist Financial Corp boosted its stake in Ocular Therapeutix by 100.0% in the second quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 50,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ocular Therapeutix by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ocular Therapeutix in the 2nd quarter valued at $342,000. Institutional investors own 59.21% of the company’s stock.

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.