Ocular Therapeutix (NASDAQ:OCUL) Trading 10% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares rose 10% on Thursday . The company traded as high as $5.57 and last traded at $5.52. Approximately 638,738 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,216,170 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler lifted their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Bank of America initiated coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.60.

Ocular Therapeutix Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The stock has a 50-day simple moving average of $8.26 and a 200-day simple moving average of $5.47.

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

Insiders Place Their Bets

In other news, major shareholder Summer Road Llc purchased 930,851 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the transaction, 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 can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. bought a new position in shares of Ocular Therapeutix during the fourth quarter worth about $20,071,000. Deltec Asset Management LLC boosted its stake in Ocular Therapeutix by 18.5% during the 4th quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock valued at $10,898,000 after purchasing an additional 381,810 shares during the period. Sectoral Asset Management Inc. grew its position in Ocular Therapeutix by 20.8% in the 3rd quarter. Sectoral Asset Management Inc. now owns 969,350 shares of the biopharmaceutical company’s stock worth $3,044,000 after purchasing an additional 166,670 shares during the last quarter. Great Point Partners LLC acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $3,122,000. Finally, Artia Global Partners LP acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $1,962,000. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

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.