Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 6.6% – What’s Next?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 6.6% during trading on Tuesday . The company traded as high as $10.23 and last traded at $10.2990. 674,177 shares changed hands during trading, a decline of 85% from the average session volume of 4,594,744 shares. The stock had previously closed at $9.66.

Analyst Ratings Changes

Several research firms have recently weighed in on OCUL. Chardan Capital lifted their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Robert W. Baird raised their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.11.

Ocular Therapeutix Trading Up 4.5%

The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.21 billion, a PE ratio of -6.91 and a beta of 0.88. The company has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $9.58.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,999 shares of company stock valued at $237,792 in the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Ocular Therapeutix during the fourth quarter worth about $31,000. Hilton Head Capital Partners LLC boosted its position in shares of Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,053 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in Ocular Therapeutix in the 4th quarter valued at approximately $61,000. Finally, KBC Group NV purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.