Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up to $8.76

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.76, but opened at $8.94. Ocular Therapeutix shares last traded at $8.67, with a volume of 8,539 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OCUL shares. TD Cowen downgraded Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. Robert W. Baird reduced their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.67.

Ocular Therapeutix Trading Up 1.3 %

The firm’s 50 day moving average is $8.35 and its 200 day moving average is $7.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. The company has a market cap of $1.37 billion, a PE ratio of -6.49 and a beta of 1.28.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The business had revenue of $16.40 million during the quarter, compared to analysts’ expectations of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. On average, equities analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Large investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix during the first quarter worth approximately $65,055,000. Franklin Resources Inc. bought a new stake in Ocular Therapeutix in the fourth quarter worth $20,071,000. Point72 Asset Management L.P. purchased a new stake in Ocular Therapeutix during the second quarter valued at about $18,514,000. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after buying an additional 2,117,029 shares during the last quarter. Finally, Nantahala Capital Management LLC purchased a new position in shares of Ocular Therapeutix in the second quarter worth about $6,840,000. Hedge funds and other 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.