Ocular Therapeutix (NASDAQ:OCUL) Trading 10.2% Higher - Here's What Happened

Key Points

• OCUL shares jumped 10.2% on Friday to about $9.77, trading roughly 3.64 million shares that day (down ~38% from its average daily volume).
• Wall Street remains cautiously bullish with a consensus rating of "Moderate Buy" and a consensus price target of $23.78 (12 Buys, 1 Hold, 1 Sell).
• Despite the analyst optimism, Ocular Therapeutix reported weak fundamentals recently — revenue fell ~22.4% year‑over‑year, EPS remains negative, and the company reported a very large negative net margin (~511.9%).

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s stock price was up 10.2% on Friday . The company traded as high as $9.73 and last traded at $9.7660. Approximately 3,638,107 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 5,832,654 shares. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OCUL shares. William Blair restated an "outperform" rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research note on Monday. Wall Street Zen cut Ocular Therapeutix from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Jefferies Financial Group restated a "buy" rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Chardan Capital reiterated a "buy" rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.78.

Ocular Therapeutix Price Performance

The stock has a market capitalization of $2.14 billion, a PE ratio of -6.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The stock's fifty day moving average is $8.80 and its 200-day moving average is $10.72.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.04. The company had revenue of $13.25 million during the quarter, compared to analysts' expectations of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The firm's revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) earnings per share. As a group, equities analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Nadia Waheed sold 3,510 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.74, for a total transaction of $27,167.40. Following the transaction, the insider owned 314,907 shares of the company's stock, valued at approximately $2,437,380.18. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pravin Dugel sold 20,056 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $166,063.68. Following the transaction, the insider directly owned 3,013,022 shares in the company, valued at approximately $24,947,822.16. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 197,221 shares of company stock valued at $1,754,805. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds have recently bought and sold shares of OCUL. Citigroup Inc. increased its position in shares of Ocular Therapeutix by 574.4% in the 3rd quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company's stock valued at $7,871,000 after purchasing an additional 573,504 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ocular Therapeutix by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company's stock worth $107,118,000 after purchasing an additional 771,065 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter worth $2,360,000. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company's stock worth $119,822,000 after purchasing an additional 2,850,000 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB acquired a new position in shares of Ocular Therapeutix during the third quarter worth $2,361,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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