Ocular Therapeutix (NASDAQ:OCUL) Shares Up 4.9% - Here's What Happened

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 11th. They issued a "buy" rating and a $15.00 target price for the company. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They set an "outperform" rating and a $17.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Stock Performance

The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.82 and a beta of 1.49. The stock's 50-day simple moving average is $7.42 and its 200 day simple moving average is $8.69.

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

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the business'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 directly owns 204,563 shares of the company's stock, valued at approximately $1,603,773.92. The trade was 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 hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,895 shares of company stock worth $283,772. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Deep Track Capital LP boosted its holdings in Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after acquiring an additional 114,822 shares during the last quarter. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after purchasing an additional 99,730 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after purchasing an additional 895,304 shares during the last quarter. Deltec Asset Management LLC grew its position in shares of Ocular Therapeutix by 0.6% during the 4th quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company's stock worth $22,344,000 after buying an additional 16,300 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Ocular Therapeutix by 26.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock worth $11,398,000 after buying an additional 278,610 shares during the last quarter. Institutional investors own 59.21% of the company's stock.

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.