Ocular Therapeutix (NASDAQ:OCUL) Reaches New 1-Year High - What's Next?

Key Points

• Ocular Therapeutix stock reached a new 52-week high of $12.35, having traded with a volume of over 1.78 million shares.
• Several analysts have rated Ocular Therapeutix with a consensus rating of "Buy" and a price target of $17.33.
• Insider trading activity included a sale of 21,219 shares by Pravin Dugel and a purchase of 10,000 shares by Richard L. Md Lindstrom, highlighting significant movements in ownership.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $12.35 and last traded at $12.35, with a volume of 1787624 shares traded. The stock had previously closed at $11.92.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OCUL. Needham & Company LLC lifted their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Finally, Scotiabank decreased their price target on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Ocular Therapeutix presently has an average rating of "Buy" and an average price target of $17.17.

Ocular Therapeutix Stock Down 1.4%

The business's fifty day moving average is $10.09 and its two-hundred day moving average is $8.35. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -9.46 and a beta of 1.49. The company has a quick ratio of 10.14, a current ratio of 10.10 and a debt-to-equity ratio of 0.23.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings results 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 return on equity of 71.92% and a negative net margin of 382.51%. The business had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.12 million. During the same quarter last year, the firm earned ($0.26) EPS. The business's revenue was down 17.7% on a year-over-year basis. Equities analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the sale, the insider owned 3,499,099 shares in the company, valued at $25,123,530.82. This represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 29,079 shares of company stock worth $208,739. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in OCUL. Sei Investments Co. raised its holdings in Ocular Therapeutix by 19.3% in the fourth quarter. Sei Investments Co. now owns 27,742 shares of the biopharmaceutical company's stock valued at $237,000 after acquiring an additional 4,496 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $149,000. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after purchasing an additional 99,730 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ocular Therapeutix by 123.6% in the 4th quarter. JPMorgan Chase & Co. now owns 189,295 shares of the biopharmaceutical company's stock valued at $1,617,000 after purchasing an additional 104,650 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Ocular Therapeutix by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company's stock worth $3,991,000 after purchasing an additional 4,488 shares during the last quarter. 59.21% of the stock is 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.