Ocular Therapeutix (NASDAQ:OCUL) Shares Up 10.7%

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price rose 10.7% during trading on Friday . The stock traded as high as $4.69 and last traded at $4.65. Approximately 2,715,312 shares were traded during trading, an increase of 24% from the average daily volume of 2,193,822 shares. The stock had previously closed at $4.20.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. Piper Sandler lifted their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Bank of America began coverage on Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Price Performance

The company has a market cap of $734.05 million, a P/E ratio of -3.80 and a beta of 1.30. The company’s 50-day moving average price is $8.63 and its two-hundred day moving average price is $5.36. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. As a group, sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.

Insider Activity

In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the sale, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Summer Road Llc purchased 930,851 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $7.52 per share, with a total value of $6,999,999.52. Following the acquisition, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the transaction, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds have recently added to or reduced their stakes in OCUL. Trust Co. of Vermont raised its holdings in shares of Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 7,152 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 5,730 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $45,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Ocular Therapeutix during the third quarter valued at $37,000. 59.21% of the stock is currently owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.