Ocular Therapeutix (NASDAQ:OCUL) Trading Up 5.4% - Still a Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s share price shot up 5.4% during mid-day trading on Wednesday . The stock traded as high as $7.21 and last traded at $7.32. 190,908 shares were traded during trading, a decline of 86% from the average session volume of 1,395,389 shares. The stock had previously closed at $6.94.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair initiated coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating on the stock. Needham & Company LLC reduced their price objective 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. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.25.

Ocular Therapeutix Stock Up 8.3%

The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $7.97. The firm has a market cap of $1.20 billion, a PE ratio of -5.70 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to analysts' expectations of $16.89 million. Sell-side analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard L. Md Lindstrom purchased 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $6.96 per share, with a total value of $69,600.00. Following the completion of the acquisition, the director now owns 172,704 shares of the company's stock, valued at $1,202,019.84. The trade was a 6.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the transaction, the insider now owns 3,499,099 shares of the company's stock, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,079 shares of company stock valued at $208,739 in the last ninety days. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently made changes to their positions in OCUL. Caxton Associates LLP acquired a new position in Ocular Therapeutix in the 1st quarter valued at $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ocular Therapeutix by 5.8% in the 1st 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 last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 purchasing an additional 1,600,000 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Ocular Therapeutix during the 1st quarter worth about $1,011,000. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Ocular Therapeutix in the 1st quarter valued at about $9,632,000. Institutional investors and hedge funds own 59.21% of the company's stock.

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.

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