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

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) traded up 4.9% on Wednesday . The stock traded as high as $6.80 and last traded at $6.86. 365,431 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,540,876 shares. The stock had previously closed at $6.54.

Analyst Ratings Changes

OCUL has been the subject of several recent research reports. HC Wainwright restated a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target for the company. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Needham & Company LLC began coverage on Ocular Therapeutix in a report on Tuesday, March 11th. They set a "buy" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Stock Down 0.9 %

The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.77 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The business has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $8.69.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pravin Dugel sold 21,475 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares of the company's stock, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,895 shares of company stock valued at $283,772 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter worth approximately $28,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Ocular Therapeutix during the fourth quarter worth $43,000. AlphaQuest LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $53,000. GAMMA Investing LLC boosted its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 8,112 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Ocular Therapeutix by 2,045.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 8,446 shares in the last quarter. 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.