Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up to $7.79

Ocular Therapeutix, Inc. (NASDAQ:OCUL) gapped up before the market opened on Wednesday . The stock had previously closed at $7.79, but opened at $7.97. Ocular Therapeutix shares last traded at $7.87, with a volume of 51,224 shares.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a report on Tuesday. Bank of America assumed coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 price objective on the stock. StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.80.

Ocular Therapeutix Trading Down 22.7 %

The company’s 50 day moving average price is $8.74 and its two-hundred day moving average price is $5.29. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. On average, research analysts anticipate that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Summer Road Llc acquired 930,851 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Summer Road Llc purchased 930,851 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares in the company, valued at $64,607,335.52. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rabia Gurses Ozden sold 7,764 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now owns 92,767 shares of the company’s stock, valued at $459,196.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OCUL. Swiss National Bank grew its holdings in shares of Ocular Therapeutix by 7.6% in the first quarter. Swiss National Bank now owns 172,100 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 12,100 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ocular Therapeutix by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 45,254 shares of the biopharmaceutical company’s stock valued at $224,000 after purchasing an additional 8,439 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Ocular Therapeutix in the first quarter valued at approximately $1,080,000. Panagora Asset Management Inc. grew its holdings in shares of Ocular Therapeutix by 184.0% in the first quarter. Panagora Asset Management Inc. now owns 85,424 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 55,346 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Ocular Therapeutix by 9.5% in the first quarter. Cetera Investment Advisers now owns 566,750 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 49,000 shares in 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.