Ocular Therapeutix Target of Unusually High Options Trading (NASDAQ:OCUL)

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the recipient of unusually large options trading on Monday. Stock investors purchased 9,884 call options on the company. This is an increase of 301% compared to the average volume of 2,463 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Finally, Chardan Capital increased their target price on Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its stake in Ocular Therapeutix by 3,136.1% during the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after buying an additional 3,736,560 shares during the period. Alliancebernstein L.P. boosted its position in Ocular Therapeutix by 2,003.2% in the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after buying an additional 3,261,619 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after acquiring an additional 2,850,000 shares in the last quarter. Commodore Capital LP acquired a new stake in shares of Ocular Therapeutix during the first quarter valued at about $21,810,000. Finally, Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after acquiring an additional 2,411,953 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Up 1.1%

NASDAQ OCUL traded up $0.10 on Monday, reaching $9.74. The company had a trading volume of 1,062,263 shares, compared to its average volume of 4,615,834. The firm has a market capitalization of $2.13 billion, a PE ratio of -6.67 and a beta of 0.88. Ocular Therapeutix has a 1 year low of $6.23 and a 1 year high of $16.44. The firm has a 50-day moving average of $9.11 and a 200-day moving average of $9.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73.

About Ocular Therapeutix

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.