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

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares 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 traded.

Wall Street Analysts Forecast Growth

OCUL has been the subject of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a report on Tuesday. StockNews.com downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. Piper Sandler boosted their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, February 26th. Bank of America began coverage on Ocular Therapeutix in a research note on Friday, February 9th. They issued a "buy" rating and a $15.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.80.

Ocular Therapeutix Stock Down 2.7 %

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.20 and a beta of 1.30. The business has a 50-day moving average of $8.63 and a 200-day moving average of $5.25. 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 - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The business had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. On average, sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company's stock valued at $22,827,000 after buying an additional 1,057,123 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Ocular Therapeutix during the 4th quarter worth about $277,000. Price T Rowe Associates Inc. MD raised its position in shares of Ocular Therapeutix by 31.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company's stock worth $238,000 after acquiring an additional 12,859 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Ocular Therapeutix by 5.7% during the fourth quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company's stock worth $1,101,000 after purchasing an additional 13,321 shares during the last quarter. 59.21% of the stock is currently 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.