Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares traded down 7% during trading on Friday . The stock traded as low as $5.40 and last traded at $5.43. 758,703 shares were traded during trading, a decline of 67% from the average session volume of 2,299,848 shares. The stock had previously closed at $5.84.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on OCUL shares. HC Wainwright cut their price target on shares of Ocular Therapeutix from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday. JMP Securities decreased their price target on Ocular Therapeutix from $24.00 to $22.00 and set a "market outperform" rating for the company in a research note on Wednesday. Bank of America initiated coverage on Ocular Therapeutix in a report on Friday, February 9th. They set a "buy" rating and a $15.00 price objective on the stock. StockNews.com lowered Ocular Therapeutix from a "hold" rating to a "sell" rating in a report on Friday, April 5th. Finally, Piper Sandler lifted their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.17.
Read Our Latest Research Report on Ocular Therapeutix
Ocular Therapeutix Stock Down 3.1 %
The firm's 50-day simple moving average is $7.93 and its 200-day simple moving average is $5.57. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The company has a market capitalization of $875.75 million, a price-to-earnings ratio of -4.53 and a beta of 1.47.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million for the quarter, compared to the consensus estimate of $15.31 million. Sell-side analysts forecast that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.
Insider Transactions at Ocular Therapeutix
In related news, major shareholder Summer Road Llc purchased 930,851 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, 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. Company insiders own 5.50% of the company's stock.
Hedge Funds Weigh In On Ocular Therapeutix
Several institutional investors have recently modified their holdings of OCUL. Franklin Resources Inc. acquired a new stake in Ocular Therapeutix during the 4th quarter worth $20,071,000. Vanguard Group Inc. raised its position in shares of Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company's stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Great Point Partners LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $3,122,000. Artia Global Partners LP acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at approximately $1,962,000. Finally, Deltec Asset Management LLC lifted its position in 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 acquiring an additional 381,810 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.
About Ocular Therapeutix
(
Get Free Report)
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.
Further Reading
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