Ocular Therapeutix (NASDAQ:OCUL) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.28 and traded as high as $12.81. Ocular Therapeutix shares last traded at $12.71, with a volume of 922,364 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. Piper Sandler lifted their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, October 30th. Robert W. Baird lifted their price objective on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Ocular Therapeutix in a research report on Monday, December 8th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Ocular Therapeutix Trading Down 1.2%

The stock has a fifty day moving average of $12.30 and a 200-day moving average of $11.69. The company has a market cap of $2.68 billion, a PE ratio of -8.72 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $14.54 million during the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. Sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total transaction of $137,368.88. Following the completion of the sale, the insider owned 87,568 shares in the company, valued at $1,080,589.12. This trade represents a 11.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Kaiser sold 9,653 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider owned 194,440 shares in the company, valued at $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 31,287 shares of company stock worth $359,784 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 893 shares in the last quarter. Trust Co. of Vermont grew its holdings in Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after purchasing an additional 1,314 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Ocular Therapeutix by 8.1% in the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 1,472 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.