Ocular Therapeutix (NASDAQ:OCUL) Trading 9.7% Higher – Still a Buy?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) were up 9.7% during trading on Tuesday . The stock traded as high as $8.39 and last traded at $8.39. Approximately 303,469 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,548,098 shares. The stock had previously closed at $7.65.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC started coverage on Ocular Therapeutix in a research note on Tuesday. They set a “buy” rating and a $15.00 price target on the stock. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.29.

Ocular Therapeutix Stock Down 0.8 %

The stock has a market cap of $1.33 billion, a P/E ratio of -6.33 and a beta of 1.34. The stock’s 50-day moving average is $7.72 and its 200-day moving average is $8.84. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. As a group, research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald Notman sold 11,119 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the sale, the insider now owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of OCUL. MetLife Investment Management LLC lifted its position in shares of Ocular Therapeutix by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company’s stock worth $792,000 after acquiring an additional 2,454 shares during the period. Teacher Retirement System of Texas boosted its stake in Ocular Therapeutix by 10.0% during the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ocular Therapeutix by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock valued at $755,000 after buying an additional 2,853 shares during the period. HighVista Strategies LLC boosted its position in shares of Ocular Therapeutix by 5.1% during the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $28,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.