Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 5.8% - Should You Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) rose 5.8% during mid-day trading on Monday . The company traded as high as $7.74 and last traded at $7.74. Approximately 136,728 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,523,282 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

Several research analysts have recently commented on OCUL shares. William Blair began coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, April 8th. Finally, Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of "Moderate Buy" and a consensus target price of $16.38.

Ocular Therapeutix Stock Down 0.2 %

The firm's fifty day simple moving average is $7.24 and its 200 day simple moving average is $8.50. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -5.94 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted 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 analysts' expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Sell-side analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deltec Asset Management LLC grew its position in Ocular Therapeutix by 3.8% in the 1st quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock valued at $19,911,000 after buying an additional 100,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Ocular Therapeutix in the 1st quarter worth $2,505,000. Courier Capital LLC boosted its holdings in shares of Ocular Therapeutix by 173.3% in the first quarter. Courier Capital LLC now owns 154,266 shares of the biopharmaceutical company's stock valued at $1,131,000 after acquiring an additional 97,828 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ocular Therapeutix by 4.5% in the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock valued at $1,635,000 after acquiring an additional 9,514 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 period. Institutional investors and hedge funds own 59.21% of the company's stock.

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.