Short Interest in Ocular Therapeutix, Inc. (NASDAQ:OCUL) Drops By 18.1%

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 13,260,000 shares, a drop of 18.1% from the September 30th total of 16,190,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 11.4 days.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently bought and sold shares of OCUL. Atlas Capital Advisors LLC purchased a new stake in Ocular Therapeutix in the second quarter worth $34,000. Amalgamated Bank grew its position in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 1,015 shares in the last quarter. Algert Global LLC purchased a new position in shares of Ocular Therapeutix in the second quarter valued at $69,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Ocular Therapeutix in the first quarter valued at $94,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Ocular Therapeutix in a report on Wednesday, October 16th. Scotiabank assumed coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $22.00 price target on the stock. Finally, 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 report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.57.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL traded up $0.23 during trading hours on Monday, reaching $11.37. The stock had a trading volume of 1,075,840 shares, compared to its average volume of 1,922,728. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64. The stock has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $7.54. Ocular Therapeutix has a 12-month low of $2.00 and a 12-month high of $11.77. The stock has a market cap of $1.77 billion, a P/E ratio of -8.36 and a beta of 1.29.

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

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.