Ocular Therapeutix (NASDAQ:OCUL) Shares Up 3.9%

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) traded up 3.9% during mid-day trading on Thursday . The company traded as high as $8.22 and last traded at $8.22. 261,153 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,992,705 shares. The stock had previously closed at $7.91.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com lowered Ocular Therapeutix from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. Bank of America assumed coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a "buy" rating and a $15.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. Piper Sandler increased 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. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Ocular Therapeutix Price Performance

The business has a 50-day moving average price of $8.46 and a 200 day moving average price of $5.13. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -6.54 and a beta of 1.30. 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 released its 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). The company had revenue of $14.80 million during the quarter, compared to analyst estimates 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 expect that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity

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 acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now 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 can be accessed through this link. 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 acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now 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 can be accessed through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value 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. Insiders sold 39,366 shares of company stock worth $194,862 over the last quarter. Corporate insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds have recently bought and sold shares of OCUL. Franklin Resources Inc. acquired a new position in Ocular Therapeutix during the fourth quarter worth $20,071,000. Vanguard Group Inc. increased its position in Ocular Therapeutix by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company's stock worth $22,827,000 after buying an additional 1,057,123 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Ocular Therapeutix by 376.4% in the second quarter. Nuveen Asset Management LLC now owns 919,602 shares of the biopharmaceutical company's stock valued at $4,745,000 after purchasing an additional 726,569 shares during the last quarter. Great Point Partners LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $3,122,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at about $3,080,000. 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.