Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – Time to Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.07, but opened at $12.53. Ocular Therapeutix shares last traded at $11.9570, with a volume of 10,601,602 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OCUL. JMP Securities boosted their price objective on Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 1st. Piper Sandler lifted their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 8th. TD Cowen increased their price target on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Royal Bank Of Canada reaffirmed 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 company. Based on data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Ocular Therapeutix Price Performance

The firm has a market capitalization of $2.46 billion, a P/E ratio of -7.98 and a beta of 0.93. 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 business has a 50 day simple moving average of $12.30 and a two-hundred day simple moving average of $11.97.

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

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 893 shares in the last quarter. Trust Co. of Vermont grew its position in Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Ocular Therapeutix by 1.8% in the second 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 raised its position in Ocular Therapeutix by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Profund Advisors LLC raised its position in Ocular Therapeutix by 9.9% during the third quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock valued at $294,000 after purchasing an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.