Ocular Therapeutix (NASDAQ:OCUL) Trading 10% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price traded up 10% during trading on Thursday . The stock traded as high as $5.57 and last traded at $5.52. 638,738 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,216,170 shares. The stock had previously closed at $5.02.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America began coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 price target for the company. StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Piper Sandler increased their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. JMP Securities restated a “market outperform” rating and set a $24.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Ocular Therapeutix in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $17.60.

Ocular Therapeutix Trading Up 14.5 %

The stock has a market capitalization of $889.70 million, a price-to-earnings ratio of -4.26 and a beta of 1.47. The company’s 50 day moving average is $8.41 and its 200 day moving average is $5.44. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66.

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

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 930,851 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the purchase, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Ocular Therapeutix by 373.1% in the 1st quarter. BNP Paribas Financial Markets now owns 185,308 shares of the biopharmaceutical company’s stock worth $1,686,000 after purchasing an additional 146,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ocular Therapeutix during the 1st quarter worth about $486,000. Principal Financial Group Inc. grew its holdings in Ocular Therapeutix by 27.0% during the 1st quarter. Principal Financial Group Inc. now owns 27,880 shares of the biopharmaceutical company’s stock worth $254,000 after acquiring an additional 5,921 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ocular Therapeutix by 130.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 21,199 shares of the biopharmaceutical company’s stock worth $193,000 after acquiring an additional 12,007 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in Ocular Therapeutix during the 1st quarter worth about $264,000. 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.