Ocular Therapeutix (NASDAQ:OCUL) Shares Up 4.9% – Should You Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shot up 4.9% on Wednesday . The company traded as high as $6.80 and last traded at $6.86. 365,431 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,540,876 shares. The stock had previously closed at $6.54.

Analyst Ratings Changes

A number of equities research analysts have commented on OCUL shares. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Stock Up 8.5 %

The company has a market cap of $1.13 billion, a P/E ratio of -5.37 and a beta of 1.49. The stock’s 50-day moving average price is $7.48 and its 200-day moving average price is $8.73. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares in the company, valued at $1,510,797.64. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC grew its stake in shares of Ocular Therapeutix by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock worth $792,000 after acquiring an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Ocular Therapeutix by 10.0% in the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 2,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ocular Therapeutix by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock worth $755,000 after buying an additional 2,853 shares in the last quarter. HighVista Strategies LLC boosted its stake in shares of Ocular Therapeutix by 5.1% in the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 3,168 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $28,000. 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.