Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 5.5% - Time to Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price traded up 5.5% on Tuesday . The company traded as high as $10.03 and last traded at $10.14. 213,351 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,411,193 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Royal Bank Of Canada assumed coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective on the stock. William Blair assumed coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating on the stock. Finally, Needham & Company LLC dropped their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Ocular Therapeutix has a consensus rating of "Buy" and an average target price of $17.33.

Ocular Therapeutix Stock Performance

The company has a market capitalization of $1.77 billion, a P/E ratio of -9.69 and a beta of 1.43. The firm has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $7.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 10.14 and a current ratio of 10.22.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total value of $152,352.42. Following the sale, the insider directly owned 3,499,099 shares in the company, valued at approximately $25,123,530.82. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the purchase, the director owned 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. Over the last quarter, insiders sold 29,079 shares of company stock worth $208,739. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OCUL. Rhumbline Advisers lifted its holdings in Ocular Therapeutix by 4.5% during the 1st quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock worth $1,635,000 after buying an additional 9,514 shares in the last quarter. Caxton Associates LLP acquired a new position in Ocular Therapeutix during the 1st quarter worth $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock worth $686,000 after buying an additional 5,156 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Ocular Therapeutix by 44.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock worth $38,116,000 after buying an additional 1,600,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Ocular Therapeutix during the 1st quarter worth $1,011,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.