Ocular Therapeutix (NASDAQ:OCUL) Trading 10% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shot up 10% on Thursday . The stock traded as high as $5.57 and last traded at $5.52. 638,738 shares were traded during trading, a decline of 71% from the average session volume of 2,216,170 shares. The stock had previously closed at $5.02.

Analysts Set New Price Targets

Several research firms recently weighed in on OCUL. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. JMP Securities restated a “market outperform” rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Piper Sandler boosted their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, Bank of America assumed coverage on Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The firm’s fifty day moving average is $8.41 and its two-hundred day moving average is $5.44. The company has a market cap of $889.70 million, a P/E ratio of -4.26 and a beta of 1.47.

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

Insider Transactions at Ocular Therapeutix

In other news, major shareholder Summer Road Llc acquired 930,851 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the acquisition, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont raised its holdings in Ocular Therapeutix by 20.0% during 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. Barclays PLC raised its holdings in Ocular Therapeutix by 22.9% during the 3rd quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 4,840 shares during the period. Tower Research Capital LLC TRC raised its holdings in Ocular Therapeutix by 142.3% during 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. Principal Financial Group Inc. raised its holdings in Ocular Therapeutix by 27.0% during the 1st quarter. Principal Financial Group Inc. now owns 27,880 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 5,921 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Ocular Therapeutix by 350.6% during 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. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.