Ocular Therapeutix (NASDAQ:OCUL) Shares Up 9.7% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, Needham & Company LLC assumed coverage on Ocular Therapeutix in a research note on Tuesday. They set a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

Ocular Therapeutix Stock Up 5.5 %

The stock’s fifty day moving average price is $7.73 and its 200 day moving average price is $8.85. 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 $1.28 billion, a P/E ratio of -6.11 and a beta of 1.34.

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

Insider Transactions at Ocular Therapeutix

In related news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now owns 204,563 shares in the company, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on 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 owns 3,520,318 shares in the company, valued at $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 three months, insiders have sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC boosted 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 purchasing an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Ocular Therapeutix by 10.0% in the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ocular Therapeutix by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company’s stock worth $755,000 after acquiring an additional 2,853 shares during the last quarter. HighVista Strategies LLC increased its holdings 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 valued at $566,000 after acquiring an additional 3,168 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth about $28,000. 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.