Ocular Therapeutix (NASDAQ:OCUL) Trading Up 5.8% – Here’s What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shot up 5.8% on Monday . The stock traded as high as $7.74 and last traded at $7.74. 136,728 shares changed hands during trading, a decline of 91% from the average session volume of 1,523,282 shares. The stock had previously closed at $7.31.

Analyst Upgrades and Downgrades

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

Ocular Therapeutix Stock Performance

The stock’s 50 day moving average price is $7.21 and its 200 day moving average price is $8.52. The company has a market capitalization of $1.21 billion, a P/E ratio of -5.76 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

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

Insider Activity

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction 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 transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the transaction, the insider now owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in the business. Deep Track Capital LP raised its holdings in shares of 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 purchasing an additional 114,822 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ocular Therapeutix by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company’s stock worth $72,453,000 after buying an additional 99,730 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Ocular Therapeutix by 43.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after buying an additional 895,304 shares during the last quarter. Deltec Asset Management LLC raised its position in Ocular Therapeutix by 0.6% in the fourth quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company’s stock worth $22,344,000 after acquiring an additional 16,300 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Ocular Therapeutix by 26.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company’s stock valued at $11,398,000 after acquiring 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.