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

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

Analyst Ratings Changes

Several research firms recently issued reports on OCUL. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Needham & Company LLC initiated coverage on Ocular Therapeutix in a report on Tuesday. They issued a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.29.

Ocular Therapeutix Stock Up 5.5 %

The stock has a market cap of $1.28 billion, a P/E ratio of -6.11 and a beta of 1.34. The company’s fifty day moving average price is $7.73 and its 200-day moving average price is $8.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The firm had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Equities analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Donald Notman sold 6,301 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the sale, the insider now owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 38,895 shares of company stock valued at $283,772 in the last three months. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. MetLife Investment Management LLC boosted its holdings 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 valued at $792,000 after buying an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of 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 purchasing an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ocular Therapeutix by 3.3% during 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 in the last quarter. HighVista Strategies LLC lifted its stake in shares of Ocular Therapeutix by 5.1% during the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 3,168 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.