Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) rose 5.5% on Tuesday . The stock traded as high as $10.03 and last traded at $10.14. Approximately 213,351 shares were traded during trading, a decline of 85% from the average daily volume of 1,411,193 shares. The stock had previously closed at $9.61.
Wall Street Analysts Forecast Growth
OCUL has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a report on Thursday, May 29th. William Blair initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating for the company. Royal Bank Of Canada initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target for the company. Finally, Needham & Company LLC lowered their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of "Buy" and a consensus target price of $17.33.
Read Our Latest Stock Report on Ocular Therapeutix
Ocular Therapeutix Stock Up 8.5%
The business's fifty day simple moving average is $8.31 and its 200 day simple moving average is $7.87. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -9.36 and a beta of 1.43.
Insiders Place Their Bets
In other news, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction on Friday, May 23rd. The shares were 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 $25,123,530.82. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard L. Md Lindstrom purchased 10,000 shares of Ocular Therapeutix stock in a transaction dated Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the transaction, the director owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. This represents a 6.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 29,079 shares of company stock valued at $208,739 in the last ninety days. Company insiders own 2.30% of the company's stock.
Hedge Funds Weigh In On Ocular Therapeutix
A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. Adage Capital Partners GP L.L.C. boosted its position in shares of Ocular Therapeutix by 44.4% during the first 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 purchasing an additional 1,600,000 shares in the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Ocular Therapeutix during the first quarter worth $9,632,000. Point72 Asset Management L.P. lifted its position in Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after acquiring an additional 895,304 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Ocular Therapeutix in the 1st quarter valued at $6,212,000. Finally, Millennium Management LLC bought a new stake in Ocular Therapeutix in the 4th quarter valued at $3,819,000. 59.21% of the stock is owned by institutional investors.
Ocular Therapeutix Company Profile
(
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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