Ocular Therapeutix (NASDAQ:OCUL) Hits New 52-Week High - Should You Buy?

Key Points

• Ocular Therapeutix (NASDAQ:OCUL) shares reached a new 52-week high of $12.65, reflecting a significant increase in trading volume with 2,417,540 shares changing hands.
• Analyst ratings for Ocular Therapeutix are generally positive, with multiple firms reiterating a "buy" rating, and an average price target of $17.20.
• The company reported negative earnings with an EPS of ($0.39), which was lower than analysts' expectations, despite a revenue increase compared to estimates.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $12.65 and last traded at $12.56, with a volume of 2417540 shares. The stock had previously closed at $12.21.

Analyst Upgrades and Downgrades

OCUL has been the subject of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Scotiabank decreased their target price on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Needham & Company LLC increased their target price on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $17.20.

Ocular Therapeutix Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -9.81 and a beta of 1.49. The stock's 50-day moving average is $10.17 and its 200 day moving average is $8.38.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. Ocular Therapeutix's revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.26) EPS. As a group, analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,219 shares of the stock in a transaction dated 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 transaction, the insider directly owned 3,499,099 shares of the company's stock, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 29,079 shares of company stock valued at $208,739 over the last three months. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OCUL. GF Fund Management CO. LTD. purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $28,000. Nisa Investment Advisors LLC increased its stake in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 1,392 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Ocular Therapeutix by 151.5% during the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 893 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Ocular Therapeutix by 6,760.0% during the 1st quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 8,112 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other 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.

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