Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 5.8% – Should You Buy?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 5.8% on Monday . The company traded as high as $7.74 and last traded at $7.74. 136,728 shares traded hands during trading, a decline of 91% from the average session volume of 1,523,282 shares. The stock had previously closed at $7.31.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. William Blair started coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada assumed coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.38.

Ocular Therapeutix Stock Performance

The stock’s 50-day moving average is $7.21 and its 200 day moving average is $8.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The firm has a market cap of $1.21 billion, a P/E ratio of -5.76 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL) last announced its 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 company had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

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

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in shares of Ocular Therapeutix by 37.1% in the third quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $4,451,000 after buying an additional 138,441 shares in the last quarter. Courier Capital LLC acquired a new stake in shares of Ocular Therapeutix during the 4th quarter worth $482,000. RoundAngle Advisors LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $1,695,000. SG Americas Securities LLC raised its stake in Ocular Therapeutix by 58.7% in the fourth quarter. SG Americas Securities LLC now owns 71,698 shares of the biopharmaceutical company’s stock valued at $612,000 after purchasing an additional 26,511 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Ocular Therapeutix by 11.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after purchasing an additional 3,347 shares in the last quarter. 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.