Ocular Therapeutix (NASDAQ:OCUL) Sees Strong Trading Volume

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) saw strong trading volume on Friday . 783,758 shares were traded during mid-day trading, a decline of 61% from the previous session's volume of 2,001,828 shares.The stock last traded at $5.60 and had previously closed at $5.86.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, February 26th. Bank of America assumed coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They set a "buy" rating and a $15.00 target price for the company. JMP Securities reiterated a "market outperform" rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. HC Wainwright reiterated a "buy" rating and set a $16.00 target price on shares of Ocular Therapeutix in a research report on Friday. Finally, StockNews.com cut shares of Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, Ocular Therapeutix presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.60.

Ocular Therapeutix Stock Down 10.9 %

The company has a market cap of $775.85 million, a price-to-earnings ratio of -4.18 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. The firm's fifty day moving average price is $8.76 and its 200-day moving average price is $5.30.

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

Insider Buying and Selling

In related news, insider Rabia Gurses Ozden sold 7,764 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 $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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Rabia Gurses Ozden sold 7,764 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 $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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Summer Road Llc bought 930,851 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 26th. The stock was bought 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 in the company, valued at approximately $64,607,335.52. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,366 shares of company stock valued at $194,862. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently modified their holdings of the business. Trust Co. of Vermont boosted its stake in shares of 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Ocular Therapeutix by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 206,249 shares of the biopharmaceutical company's stock valued at $1,087,000 after purchasing an additional 1,720 shares during the period. FMR LLC raised its holdings in shares of Ocular Therapeutix by 84.4% in the 1st quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 2,175 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ocular Therapeutix by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 293,412 shares of the biopharmaceutical company's stock valued at $1,514,000 after purchasing an additional 3,357 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Ocular Therapeutix by 61.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 3,500 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.