Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) gapped up before the market opened on Tuesday . The stock had previously closed at $7.94, but opened at $8.24. Ocular Therapeutix shares last traded at $7.93, with a volume of 79,448 shares traded.

Wall Street Analysts Forecast Growth

OCUL has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a research note on Tuesday. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on Ocular Therapeutix in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Price Performance

The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.25 billion, a PE ratio of -5.97 and a beta of 1.34. The company has a fifty day moving average of $7.67 and a 200-day moving average of $8.82.

Ocular Therapeutix (NASDAQ:OCUL) last posted 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). The firm had revenue of $17.08 million during 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%. Sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 11,119 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the sale, the insider now owns 193,444 shares in the company, valued at $1,510,797.64. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the company’s 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 sale, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of OCUL. Point72 Asset Management L.P. increased its holdings in Ocular Therapeutix by 43.9% during the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock worth $25,073,000 after purchasing an additional 895,304 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after acquiring an additional 660,080 shares during the last quarter. Braidwell LP increased its holdings in shares of Ocular Therapeutix by 36.3% in the 3rd quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after acquiring an additional 596,000 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Ocular Therapeutix in the 3rd quarter valued at about $4,288,000. Finally, Millennium Management LLC purchased a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $3,819,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

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.