Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down to $6.17

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.17, but opened at $5.97. Ocular Therapeutix shares last traded at $5.96, with a volume of 1,779,436 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OCUL. Piper Sandler lifted their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Bank of America began coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Ocular Therapeutix in a research report on Friday, April 19th. Finally, StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.60.

Ocular Therapeutix Trading Down 6.0 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The firm has a fifty day moving average price of $8.26 and a 200 day moving average price of $5.51. The company has a market cap of $897.43 million, a price-to-earnings ratio of -4.58 and a beta of 1.47.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, equities analysts predict that Ocular Therapeutix, Inc. will post -0.68 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Summer Road Llc acquired 930,851 shares of Ocular Therapeutix stock in a transaction on Monday, February 26th. The stock was purchased at an average cost 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 approximately $64,607,335.52. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its position in shares of 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 buying an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in Ocular Therapeutix during the third quarter worth about $37,000. SG Americas Securities LLC acquired a new stake in Ocular Therapeutix during the third quarter worth about $38,000. China Universal Asset Management Co. Ltd. increased its holdings in Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 7,152 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Ocular Therapeutix by 142.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 5,730 shares in the last quarter. 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.