Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 3.9% – Still a Buy?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 3.9% on Tuesday . The company traded as high as $9.48 and last traded at $9.44. 114,384 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,830,470 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OCUL shares. HC Wainwright upped their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank started coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price for the company. Finally, Robert W. Baird dropped their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Price Performance

The firm has a market cap of $1.53 billion, a PE ratio of -7.34 and a beta of 1.26. 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’s fifty day moving average is $9.90 and its 200-day moving average is $8.17.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds have recently modified their holdings of the stock. Atlas Capital Advisors LLC purchased a new stake in Ocular Therapeutix in the second quarter worth $34,000. Amalgamated Bank raised its stake in Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,481 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 1,015 shares during the period. Algert Global LLC bought a new position in Ocular Therapeutix during the second quarter worth about $69,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Ocular Therapeutix in the third quarter worth about $70,000. Institutional investors 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.