Ocular Therapeutix (NASDAQ:OCUL) Reaches New 1-Year High - Should You Buy?

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.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.35 and last traded at $12.35, with a volume of 1787624 shares trading hands. The stock had previously closed at $11.92.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OCUL shares. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Finally, Needham & Company LLC dropped their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $17.33.

Ocular Therapeutix Stock Up 3.6%

The stock has a 50-day simple moving average of $9.71 and a two-hundred day simple moving average of $8.23. The company has a quick ratio of 10.14, a current ratio of 10.22 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.97 billion, a PE ratio of -10.74 and a beta of 1.49.

Insider Transactions at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,219 shares of the firm'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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of Ocular Therapeutix stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the purchase, the director directly owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. The trade was a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 29,079 shares of company stock worth $208,739 in the last 90 days. Company insiders own 2.30% of the company's stock.

Institutional Trading of Ocular Therapeutix

Several large investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in shares of Ocular Therapeutix during the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 1,392 shares during the last quarter. Brooklyn Investment Group raised its holdings in Ocular Therapeutix by 151.5% in the 1st quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 3,155 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Ocular Therapeutix in the 4th quarter worth approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Ocular Therapeutix by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 893 shares during the last quarter. 59.21% of the stock is 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.

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