Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.94, but opened at $8.24. Ocular Therapeutix shares last traded at $7.93, with a volume of 79,448 shares changing hands.

Analyst Ratings Changes

OCUL has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. 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. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research report on Tuesday. They issued an “outperform” rating and a $17.00 target price for the company. Finally, JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Stock Down 1.0 %

The business has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $8.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.97 and a beta of 1.34.

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

Insider Transactions at Ocular Therapeutix

In other news, insider Donald Notman sold 11,119 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the transaction, the insider now directly owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. This represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,895 shares of company stock valued at $283,772. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares in the last quarter. Patient Square Capital LP purchased a new position in Ocular Therapeutix in the 3rd quarter valued at approximately $2,049,000. Polar Asset Management Partners Inc. purchased a new position in Ocular Therapeutix in the 3rd quarter valued at approximately $4,288,000. FMR LLC increased its stake in Ocular Therapeutix by 7,098.7% in the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock valued at $3,779,000 after purchasing an additional 428,335 shares in the last quarter. Finally, Knoll Capital Management LLC increased its stake in Ocular Therapeutix by 199.6% in the 3rd quarter. Knoll Capital Management LLC now owns 600,400 shares of the biopharmaceutical company’s stock valued at $5,223,000 after purchasing an additional 400,000 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.