Ocular Therapeutix (NASDAQ:OCUL) Sets New 12-Month High - Still a Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.78 and last traded at $11.72, with a volume of 64984 shares changing hands. The stock had previously closed at $11.55.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OCUL shares. HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Needham & Company LLC dropped their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, William Blair assumed coverage on shares of Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $17.33.

Ocular Therapeutix Trading Up 2.4%

The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -10.62 and a beta of 1.43. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $8.11.

Insider Buying and Selling

In related news, Director Richard L. Md Lindstrom bought 10,000 shares of Ocular Therapeutix stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the acquisition, the director owned 172,704 shares in the company, valued at approximately $1,202,019.84. This represents a 6.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $152,352.42. Following the completion of the sale, the insider directly owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,079 shares of company stock valued at $208,739. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Ocular Therapeutix during the 4th quarter worth $1,722,000. Teacher Retirement System of Texas increased its position in shares of Ocular Therapeutix by 10.0% during the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock valued at $237,000 after acquiring an additional 2,526 shares during the last quarter. Sei Investments Co. grew its holdings in Ocular Therapeutix by 19.3% during the fourth quarter. Sei Investments Co. now owns 27,742 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 4,496 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $149,000. Finally, Vanguard Group Inc. boosted its stake in Ocular Therapeutix by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after buying an additional 99,730 shares during the period. 59.21% of the stock is currently owned by institutional investors.

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.