Ocular Therapeutix (NASDAQ:OCUL) Trading Up 9.5% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price shot up 9.5% during trading on Friday . The stock traded as high as $7.20 and last traded at $7.6970. 504,364 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 6,703,719 shares. The stock had previously closed at $7.03.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday. Needham & Company LLC lowered their target price on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Chardan Capital restated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday. Finally, HC Wainwright upped their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.78.

Ocular Therapeutix Stock Up 9.4%

The firm’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $11.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.34 and a beta of 0.90.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The business had revenue of $13.25 million for the quarter, compared to the consensus estimate of $16.13 million. During the same period in the previous year, the business earned ($0.29) EPS. Ocular Therapeutix’s revenue was down 22.4% compared to the same quarter last year. Sell-side analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Sanjay Nayak sold 10,348 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the sale, the insider owned 332,412 shares of the company’s stock, valued at $3,005,004.48. The trade was a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Donald Notman sold 11,446 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $103,471.84. Following the completion of the transaction, the chief operating officer directly owned 366,356 shares of the company’s stock, valued at $3,311,858.24. This trade represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 166,029 shares of company stock valued at $1,498,430 in the last ninety days. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $42,000. Nisa Investment Advisors LLC lifted its position in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,392 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth $61,000. Finally, State of Wyoming bought a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $78,000. 59.21% of the stock is owned by institutional investors.

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.