Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up to $8.44

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $8.44, but opened at $8.81. Ocular Therapeutix shares last traded at $8.10, with a volume of 403,928 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on OCUL. StockNews.com downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday. HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. JMP Securities restated a "market outperform" rating and set a $24.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, March 13th. Bank of America started coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Piper Sandler raised their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Ocular Therapeutix presently has an average rating of "Moderate Buy" and a consensus price target of $16.80.

Ocular Therapeutix Price Performance

The company has a market cap of $1.19 billion, a PE ratio of -6.39 and a beta of 1.31. The firm has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $5.08. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting analysts' consensus estimates of ($0.28). The business had revenue of $14.80 million during the quarter, compared to analysts' expectations of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 930,851 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $64,607,335.52. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Summer Road Llc bought 930,851 shares of the company's stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the acquisition, the insider now directly owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Antony C. Mattessich sold 18,338 shares of the company's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $90,773.10. Following the completion of the sale, the chief executive officer now owns 427,943 shares of the company's stock, valued at $2,118,317.85. The disclosure for this sale can be found here. Insiders sold 39,366 shares of company stock worth $194,862 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC lifted its stake in shares of Ocular Therapeutix by 18.5% in the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company's stock valued at $10,898,000 after purchasing an additional 381,810 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $667,000. GSA Capital Partners LLP lifted its stake in shares of Ocular Therapeutix by 96.4% in the 3rd quarter. GSA Capital Partners LLP now owns 233,582 shares of the biopharmaceutical company's stock valued at $733,000 after purchasing an additional 114,629 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 7,152 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Ocular Therapeutix in the 3rd quarter valued at $299,000. 59.21% of the stock is currently 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.