Ocular Therapeutix (NASDAQ:OCUL) Stock Passes Below 200 Day Moving Average – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.01 and traded as low as $9.02. Ocular Therapeutix shares last traded at $9.14, with a volume of 7,112,587 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OCUL shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Ocular Therapeutix in a research note on Monday, December 8th. TD Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, October 30th. Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 9th. Finally, HC Wainwright boosted their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Ocular Therapeutix Stock Performance

The firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $12.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 7.85 and a quick ratio of 7.78. The stock has a market cap of $1.95 billion, a PE ratio of -6.35 and a beta of 0.93.

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

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,392 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 17.0% in 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 purchasing an additional 893 shares during the last quarter. KBC Group NV purchased a new stake in shares of Ocular Therapeutix during the 4th quarter worth about $78,000. Quarry LP purchased a new stake in Ocular Therapeutix during the 3rd quarter worth $80,000. Finally, Trust Co. of Vermont grew its position in Ocular Therapeutix by 24.3% in the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 1,750 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.