Ocular Therapeutix (NASDAQ:OCUL) Sets New 52-Week High - Time to Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.68 and last traded at $11.68, with a volume of 1473 shares changing hands. The stock had previously closed at $11.47.

Analyst Ratings Changes

Several brokerages have issued reports on OCUL. Scotiabank began coverage on Ocular Therapeutix in a research note on Wednesday. They issued a "sector outperform" rating and a $22.00 price target on the stock. TD Cowen lowered Ocular Therapeutix from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 21st. Robert W. Baird dropped their price target on Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Ocular Therapeutix in a research note on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.57.

Ocular Therapeutix Price Performance

The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $8.90 and a two-hundred day moving average price of $7.41. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.32 and a beta of 1.29.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. Ocular Therapeutix's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.27) earnings per share. As a group, research analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 EPS for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont raised its position 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 last quarter. Atlas Capital Advisors LLC purchased a new stake in Ocular Therapeutix in the 2nd quarter valued at $34,000. Amalgamated Bank raised its position in Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock valued at $37,000 after buying an additional 1,481 shares during the last quarter. Algert Global LLC purchased a new stake in Ocular Therapeutix in the 2nd quarter valued at $69,000. Finally, Bayesian Capital Management LP purchased a new stake in Ocular Therapeutix in the 1st quarter valued at $94,000. 59.21% of the stock is owned by hedge funds and other 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.