Ocular Therapeutix (OCUL) Trading Up 14.1%
Ocular Therapeutix Inc (NASDAQ:OCUL) shares were up 14.1% during trading on Monday . The stock traded as high as $5.74 and last traded at $5.60. Approximately 984,700 shares changed hands during trading, an increase of 196% from the average daily volume of 332,911 shares. The stock had previously closed at $4.91.
Several research analysts have recently commented on OCUL shares. Guggenheim started coverage on Ocular Therapeutix in a report on Monday, October 23rd. They set a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a report on Monday, September 25th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, November 8th. Finally, ValuEngine raised Ocular Therapeutix from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Ocular Therapeutix presently has a consensus rating of “Hold” and an average price target of $20.67.
The company has a market cap of $162.72, a P/E ratio of -2.47 and a beta of 1.32. The company has a quick ratio of 4.78, a current ratio of 4.79 and a debt-to-equity ratio of 0.39.
Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.54). The business had revenue of $523.00 million during the quarter, compared to analyst estimates of $0.52 million. Ocular Therapeutix had a negative return on equity of 126.31% and a negative net margin of 3,241.19%. Ocular Therapeutix’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. analysts predict that Ocular Therapeutix Inc will post -2.37 EPS for the current year.
In other news, insider Daniel M. Bollag bought 24,700 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $3.93 per share, with a total value of $97,071.00. Following the completion of the purchase, the insider now directly owns 24,700 shares in the company, valued at $97,071. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Amarpreet Sawhney bought 19,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was purchased at an average cost of $5.18 per share, with a total value of $98,420.00. Following the purchase, the chairman now owns 696,390 shares of the company’s stock, valued at $3,607,300.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 69,500 shares of company stock valued at $304,781. 26.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC purchased a new stake in shares of Ocular Therapeutix during the second quarter valued at approximately $102,000. Nationwide Fund Advisors boosted its stake in shares of Ocular Therapeutix by 10.8% during the second quarter. Nationwide Fund Advisors now owns 12,344 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,204 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Ocular Therapeutix by 45.3% during the second quarter. New York State Common Retirement Fund now owns 18,600 shares of the biopharmaceutical company’s stock valued at $172,000 after purchasing an additional 5,799 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Ocular Therapeutix by 24.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,739 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 3,650 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Ocular Therapeutix by 22.1% during the second quarter. Rhumbline Advisers now owns 27,386 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 4,958 shares during the period. 52.94% of the stock is owned by institutional investors and hedge funds.
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About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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