Ocular Therapeutix (NASDAQ:OCUL) Reaches New 1-Year High - Here's What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $11.77 and last traded at $11.68, with a volume of 99569 shares changing hands. The stock had previously closed at $11.14.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OCUL. Scotiabank assumed coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $22.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, October 16th. Finally, Robert W. Baird reduced their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of "Moderate Buy" and an average target price of $16.57.

Ocular Therapeutix Stock Performance

The company's 50-day moving average price is $9.32 and its two-hundred day moving average price is $7.54. The company has a market cap of $1.77 billion, a P/E ratio of -8.36 and a beta of 1.29. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently modified their holdings of the stock. Avoro Capital Advisors LLC purchased a new position in Ocular Therapeutix during the 1st quarter worth approximately $65,055,000. Assenagon Asset Management S.A. purchased a new position in shares of Ocular Therapeutix during the third quarter valued at $24,584,000. Point72 Asset Management L.P. acquired a new position in Ocular Therapeutix during the second quarter valued at $18,514,000. Vanguard Group Inc. lifted its stake in Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company's stock worth $65,840,000 after acquiring an additional 2,117,029 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in Ocular Therapeutix in the 2nd quarter worth about $6,840,000. 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.