Ocular Therapeutix (NASDAQ:OCUL) Shares Up 10.7% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price rose 10.7% during trading on Friday . The company traded as high as $7.11 and last traded at $7.10. Approximately 1,021,579 shares changed hands during trading, a decline of 35% from the average daily volume of 1,564,879 shares. The stock had previously closed at $6.41.

Wall Street Analysts Forecast Growth

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

Ocular Therapeutix Trading Up 10.9 %

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 firm has a fifty day moving average price of $7.24 and a 200 day moving average price of $8.58. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -5.39 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results 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, equities analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Donald Notman sold 6,301 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the sale, the insider now owns 204,563 shares in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction 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 transaction, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently modified their holdings of OCUL. Point72 Asset Management L.P. grew its stake in Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock valued at $25,073,000 after buying an additional 895,304 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Ocular Therapeutix during the fourth quarter worth approximately $3,819,000. FMR LLC grew its position in shares of Ocular Therapeutix by 7,098.7% in the third 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 during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Ocular Therapeutix by 26.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company’s stock worth $11,398,000 after purchasing an additional 278,610 shares during the period. Finally, Rosalind Advisors Inc. lifted its holdings in Ocular Therapeutix by 27.5% during the 4th quarter. Rosalind Advisors Inc. now owns 1,128,700 shares of the biopharmaceutical company’s stock worth $9,639,000 after purchasing an additional 243,700 shares during the last quarter. Institutional investors and hedge funds 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.