Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up - Should You Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $7.94, but opened at $8.24. Ocular Therapeutix shares last traded at $7.93, with a volume of 79,448 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OCUL shares. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, March 11th. They issued a "buy" rating and a $15.00 price objective on the stock. JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a report on Tuesday. They issued an "outperform" rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.38.

Ocular Therapeutix Stock Up 0.9 %

The stock's fifty day simple moving average is $7.57 and its 200-day simple moving average is $8.78. The stock has a market cap of $1.19 billion, a P/E ratio of -5.69 and a beta of 1.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Remove Ads

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. As a group, research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other news, insider Donald Notman sold 11,119 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now directly owns 193,444 shares in the company, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the sale, the insider now directly owns 3,520,318 shares of the company's stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its holdings in shares of Ocular Therapeutix by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock valued at $792,000 after purchasing an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Ocular Therapeutix by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock worth $237,000 after buying an additional 2,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ocular Therapeutix by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock worth $755,000 after buying an additional 2,853 shares during the last quarter. HighVista Strategies LLC boosted its stake in Ocular Therapeutix by 5.1% in the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company's stock valued at $566,000 after buying an additional 3,168 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Ocular Therapeutix in the fourth quarter valued at about $28,000. 59.21% of the stock is owned by 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.