Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down to $6.17

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $6.17, but opened at $5.97. Ocular Therapeutix shares last traded at $5.96, with a volume of 1,779,436 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OCUL shares. StockNews.com downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. Bank of America started coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a "buy" rating and a $15.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. Piper Sandler upped their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, February 26th. Finally, HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of Ocular Therapeutix in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.60.

Ocular Therapeutix Price Performance

The business has a 50-day moving average price of $8.18 and a 200 day moving average price of $5.54. The company has a market cap of $897.43 million, a price-to-earnings ratio of -4.64 and a beta of 1.47. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other news, major shareholder Summer Road Llc bought 930,851 shares of the business's stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the purchase, the insider now directly owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont lifted its holdings in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 1,000 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in Ocular Therapeutix in the third quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Ocular Therapeutix in the third quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 7,152 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company's stock valued at $44,000 after purchasing an additional 5,730 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.