Ocular Therapeutix (NASDAQ:OCUL) Sees Strong Trading Volume

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares saw unusually-strong trading volume on Friday . Approximately 783,758 shares traded hands during mid-day trading, a decline of 61% from the previous session’s volume of 2,001,828 shares.The stock last traded at $5.60 and had previously closed at $5.86.

Analyst Ratings Changes

A number of analysts have weighed in on OCUL shares. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday. Bank of America initiated coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price objective on the stock. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a research note on Friday. Finally, Piper Sandler boosted their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Ocular Therapeutix Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The stock has a market capitalization of $781.79 million, a P/E ratio of -4.34 and a beta of 1.30. The company has a fifty day moving average of $8.74 and a two-hundred day moving average of $5.29.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. On average, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In other news, CFO Donald Notman sold 6,433 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the transaction, the chief financial officer now directly owns 139,932 shares of the company’s stock, valued at $692,663.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Antony C. Mattessich sold 18,338 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,118,317.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Donald Notman sold 6,433 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $31,843.35. Following the transaction, the chief financial officer now owns 139,932 shares of the company’s stock, valued at $692,663.40. The disclosure for this sale can be found here. Insiders sold a total of 39,366 shares of company stock valued at $194,862 over the last three months. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter worth approximately $20,071,000. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after purchasing an additional 1,057,123 shares during the period. Nuveen Asset Management LLC lifted its position in Ocular Therapeutix by 376.4% in the second quarter. Nuveen Asset Management LLC now owns 919,602 shares of the biopharmaceutical company’s stock worth $4,745,000 after purchasing an additional 726,569 shares during the period. Great Point Partners LLC acquired a new stake in Ocular Therapeutix in the fourth quarter worth approximately $3,122,000. Finally, Federated Hermes Inc. acquired a new stake in Ocular Therapeutix in the first quarter worth approximately $3,080,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.