Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up to $7.79

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares gapped up prior to trading on Wednesday . The stock had previously closed at $7.79, but opened at $7.97. Ocular Therapeutix shares last traded at $7.87, with a volume of 51,224 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. Piper Sandler raised their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. StockNews.com downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Ocular Therapeutix Price Performance

The company’s 50 day moving average is $8.74 and its two-hundred day moving average is $5.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The company had revenue of $14.80 million during the quarter, compared to analysts’ expectations of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ocular Therapeutix news, major shareholder Summer Road Llc acquired 930,851 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the transaction, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,366 shares of company stock valued at $194,862. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in OCUL. Franklin Resources Inc. bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth about $20,071,000. Vanguard Group Inc. lifted its holdings in shares of Ocular Therapeutix by 26.0% in the 4th quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after acquiring an additional 1,057,123 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Ocular Therapeutix by 376.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 919,602 shares of the biopharmaceutical company’s stock worth $4,745,000 after acquiring an additional 726,569 shares during the last quarter. Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth about $3,122,000. Finally, Federated Hermes Inc. bought a new stake in shares of Ocular Therapeutix in the 1st quarter worth about $3,080,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.