Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 4.9% - Here's Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) traded up 4.9% during trading on Wednesday . The company traded as high as $10.75 and last traded at $10.73. 309,425 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,956,161 shares. The stock had previously closed at $10.23.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Ocular Therapeutix in a report on Wednesday. Scotiabank initiated coverage on shares of Ocular Therapeutix in a research report on Wednesday. They set a "sector outperform" rating and a $22.00 price target on the stock. TD Cowen lowered shares of Ocular Therapeutix from a "strong-buy" rating to a "hold" rating in a report on Friday, June 21st. Robert W. Baird reduced their target price on Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler restated an "overweight" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st. One equities research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $16.57.

Ocular Therapeutix Price Performance

The firm has a 50 day moving average of $8.84 and a two-hundred day moving average of $7.38. The company has a market cap of $1.78 billion, a PE ratio of -8.50 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 analysts' expectations 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 prior year, the firm earned ($0.27) EPS. Research analysts predict that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Creative Planning purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at about $182,000. Essex Investment Management Co. LLC boosted its holdings in Ocular Therapeutix by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company's stock worth $3,860,000 after purchasing an additional 1,168 shares during the last quarter. Diversified Trust Co bought a new stake in Ocular Therapeutix in the 3rd quarter worth approximately $106,000. SG Americas Securities LLC purchased a new stake in Ocular Therapeutix during the 3rd quarter valued at $393,000. Finally, Cetera Investment Advisers grew its holdings in shares of Ocular Therapeutix by 1.8% in the second quarter. Cetera Investment Advisers now owns 739,044 shares of the biopharmaceutical company's stock worth $5,055,000 after acquiring an additional 13,054 shares during the period. 59.21% of the stock is owned by institutional investors.

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.