Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up to $7.79

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares gapped up prior to trading on Wednesday . The stock had previously closed at $7.79, but opened at $7.97. Ocular Therapeutix shares last traded at $7.87, with a volume of 51,224 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Ocular Therapeutix in a report on Tuesday. Bank of America initiated coverage on Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 price target on the stock. Piper Sandler increased their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Ocular Therapeutix Stock Performance

The business has a fifty day moving average price of $8.63 and a 200 day moving average price of $5.25. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. Analysts predict that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, major shareholder Summer Road Llc bought 930,851 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares in the company, valued at $64,607,335.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the transaction, the insider now directly owns 92,767 shares in the company, valued at approximately $459,196.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Ocular Therapeutix by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after purchasing an additional 1,057,123 shares during the last quarter. Trust Co. of Vermont increased its holdings in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Virtu Financial LLC acquired a new stake in Ocular Therapeutix during the 4th quarter worth about $277,000. Price T Rowe Associates Inc. MD grew its holdings in Ocular Therapeutix by 31.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company’s stock worth $238,000 after acquiring an additional 12,859 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Ocular Therapeutix by 5.7% during the 4th quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company’s stock worth $1,101,000 after acquiring an additional 13,321 shares during the period. 59.21% of the stock is currently owned by 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.