Ocular Therapeutix (NASDAQ:OCUL) Trading Up 12.3% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was up 12.3% during trading on Thursday . The company traded as high as $12.65 and last traded at $12.8710. Approximately 957,991 shares were traded during trading, a decline of 54% from the average daily volume of 2,087,346 shares. The stock had previously closed at $11.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OCUL shares. Needham & Company LLC lifted their price objective on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Scotiabank lowered their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 6th. JMP Securities upped their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Ocular Therapeutix Stock Up 8.3%

The company’s 50 day simple moving average is $11.63 and its 200-day simple moving average is $11.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85. The firm has a market capitalization of $2.64 billion, a PE ratio of -8.62 and a beta of 0.96.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $14.54 million for the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. On average, analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total value of $106,472.59. Following the sale, the insider owned 194,440 shares of the company’s stock, valued at $2,144,673.20. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd Anderman sold 11,132 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the transaction, the insider owned 87,568 shares in the company, valued at approximately $1,080,589.12. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,287 shares of company stock valued at $359,784 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. Mirae Asset Global Investments Co. Ltd. grew its position in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Ocular Therapeutix by 16.1% in the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ocular Therapeutix by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 1,314 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Ocular Therapeutix by 8.1% in the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 1,472 shares during the period. Hedge funds and other institutional investors 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.