Ocular Therapeutix (NASDAQ:OCUL) Trading 7.8% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares rose 7.8% during trading on Wednesday . The stock traded as high as $6.60 and last traded at $6.52. Approximately 252,335 shares changed hands during trading, a decline of 89% from the average daily volume of 2,289,506 shares. The stock had previously closed at $6.05.

Analysts Set New Price Targets

Several research analysts recently issued reports on OCUL shares. StockNews.com lowered Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. Bank of America started coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a "buy" rating and a $15.00 price objective for the company. JMP Securities dropped their target price on shares of Ocular Therapeutix from $24.00 to $22.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 8th. TD Cowen cut their price target on shares of Ocular Therapeutix from $11.00 to $7.00 and set a "hold" rating on the stock in a research note on Wednesday, May 8th. Finally, Piper Sandler lifted their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.17.

Ocular Therapeutix Price Performance

The company has a quick ratio of 21.29, a current ratio of 21.39 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $7.63 and its two-hundred day moving average price is $5.68. The stock has a market cap of $974.26 million, a price-to-earnings ratio of -4.67 and a beta of 1.47.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. The business had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. Equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.91 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

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. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in OCUL. Trust Co. of Vermont lifted its holdings in Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 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 acquiring an additional 7,152 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 5,730 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $45,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Ocular Therapeutix by 39.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company's stock valued at $105,000 after buying an additional 3,257 shares during the period. 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.

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