Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.37, but opened at $9.00. Ocular Therapeutix shares last traded at $9.21, with a volume of 828,777 shares trading hands.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. William Blair began coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an "outperform" rating for the company. Royal Bank Of Canada began coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price on the stock. Needham & Company LLC decreased their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, JMP Securities set a $19.00 price target on Ocular Therapeutix in a report on Tuesday, March 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of "Buy" and a consensus target price of $17.33.
Read Our Latest Stock Report on OCUL
Ocular Therapeutix Stock Performance
The company has a debt-to-equity ratio of 0.26, a current ratio of 10.22 and a quick ratio of 10.14. The company has a fifty day moving average price of $8.01 and a two-hundred day moving average price of $7.83. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -7.99 and a beta of 1.42.
Insider Activity at Ocular Therapeutix
In other news, insider Pravin Dugel sold 21,219 shares of the business's stock in a transaction on 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 now directly owns 3,499,099 shares of the company's stock, valued at $25,123,530.82. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the purchase, the director now directly owns 172,704 shares in the company, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 29,079 shares of company stock valued at $208,739 over the last ninety days. Insiders own 2.30% of the company's stock.
Institutional Investors Weigh In On Ocular Therapeutix
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at $28,000. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix during the fourth quarter valued at about $43,000. Brooklyn Investment Group raised its holdings in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 3,155 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter worth about $53,000. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 8,112 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company's stock.
About Ocular Therapeutix
(
Get Free Report)
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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