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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OCUL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday. Chardan Capital restated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday. Finally, TD Cowen reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, October 30th. 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 stock. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $23.78.

Ocular Therapeutix Price Performance

The firm has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $11.71. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.67 billion, a PE ratio of -5.34 and a beta of 0.90.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. During the same period in the previous year, the company posted ($0.29) earnings per share. Ocular Therapeutix’s revenue for the quarter was down 22.4% on a year-over-year basis. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Sanjay Nayak sold 10,348 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 value of $93,545.92. Following the transaction, the insider owned 332,412 shares in the company, valued at approximately $3,005,004.48. This represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nadia Waheed sold 7,863 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $71,081.52. Following the sale, the insider owned 318,417 shares of the company’s stock, valued at $2,878,489.68. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 166,029 shares of company stock valued at $1,498,430 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 1,314 shares during the period. Nisa Investment Advisors LLC grew its stake 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 period. Trust Co. of Vermont increased its stake in Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in Ocular Therapeutix by 9.9% during the 3rd quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 2,272 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 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.