Ocular Therapeutix (NASDAQ:OCUL) Reaches New 1-Year High - Here's Why

Key Points

• Ocular Therapeutix's stock reached a new 52-week high of $13.06 recently, indicating strong market interest.
• Analysts have mixed outlooks on the stock, with Scotiabank lowering its price target to $20.00, while others like Needham & Company have set targets as high as $15.00.
• The biopharmaceutical company reported a quarterly loss with a negative earnings per share of ($0.39), missing analysts' expectations, but saw a revenue increase compared to estimates.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.95 and last traded at $13.06, with a volume of 404200 shares traded. The stock had previously closed at $12.70.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC boosted their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $17.20.

Ocular Therapeutix Trading Up 0.7%

The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -10.03 and a beta of 1.50. 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 firm's 50-day simple moving average is $11.45 and its 200 day simple moving average is $8.93.

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 the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The firm's revenue for the quarter was down 17.7% on a year-over-year basis. Equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Ocular Therapeutix

In other news, insider Peter Kaiser sold 3,011 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,252.44. Following the completion of the transaction, the insider directly owned 204,093 shares in the company, valued at approximately $2,457,279.72. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey S. Heier sold 3,063 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the transaction, the insider owned 259,911 shares of the company's stock, valued at $3,129,328.44. This trade represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,453 shares of company stock worth $354,614. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Ocular Therapeutix

Institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new stake in shares of Ocular Therapeutix in the fourth quarter worth $28,000. Nisa Investment Advisors LLC grew its stake in shares of Ocular Therapeutix by 62.9% in the second 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 during the last quarter. Brooklyn Investment Group grew its stake in shares of Ocular Therapeutix by 151.5% in the first 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 893 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 8,112 shares during the last quarter. Institutional investors own 59.21% of the company's stock.

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.

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