Ocular Therapeutix (NASDAQ:OCUL) Trading 5.5% Higher - Time to Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s share price traded up 5.5% during trading on Tuesday . The stock traded as high as $10.03 and last traded at $10.14. 213,351 shares changed hands 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.

Analysts Set New Price Targets

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

Ocular Therapeutix Stock Up 3.0%

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 market capitalization of $1.77 billion, a PE ratio of -9.63 and a beta of 1.43. The business has a 50-day moving average of $8.31 and a 200 day moving average of $7.87.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,219 shares of the business's stock in a transaction dated 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. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. Md Lindstrom bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the transaction, the director directly owned 172,704 shares of the company's stock, valued at $1,202,019.84. This represents a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders sold 29,079 shares of company stock worth $208,739 over the last quarter. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in Ocular Therapeutix by 4.5% during the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock valued at $1,635,000 after purchasing an additional 9,514 shares during the period. Caxton Associates LLP purchased a new stake in Ocular Therapeutix during the first quarter valued at approximately $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ocular Therapeutix by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock valued at $686,000 after purchasing an additional 5,156 shares during the period. Adage Capital Partners GP L.L.C. raised its position in 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 valued at $38,116,000 after purchasing an additional 1,600,000 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ocular Therapeutix during the first quarter valued at approximately $1,011,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.