Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 6.6% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was up 6.6% during trading on Tuesday . The company traded as high as $10.23 and last traded at $10.2990. 674,177 shares changed hands during trading, a decline of 85% from the average session volume of 4,594,744 shares. The stock had previously closed at $9.66.

Analysts Set New Price Targets

OCUL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Robert W. Baird raised their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Chardan Capital lifted their target price on Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Finally, HC Wainwright reissued 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. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.11.

Ocular Therapeutix Stock Performance

The stock’s fifty day moving average price is $9.15 and its two-hundred day moving average price is $9.54. The company has a market cap of $2.28 billion, a P/E ratio of -7.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81.

Insider Buying and Selling

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Insiders sold 28,999 shares of company stock valued at $237,792 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its stake in 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 during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Ocular Therapeutix during the 4th quarter worth $31,000. Hilton Head Capital Partners LLC raised its stake in shares of Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth about $61,000. Finally, KBC Group NV bought a new position in Ocular Therapeutix during the fourth quarter valued at about $78,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.