Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – Still a Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.37, but opened at $9.00. Ocular Therapeutix shares last traded at $9.21, with a volume of 828,777 shares.

Wall Street Analyst Weigh In

OCUL has been the topic of several recent research reports. William Blair initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They set an “outperform” rating on the stock. Royal Bank Of Canada started coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price objective on the stock. Needham & Company LLC lowered their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Thursday, May 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Ocular Therapeutix currently has an average rating of “Buy” and a consensus price target of $17.33.

Ocular Therapeutix Price Performance

The firm’s 50-day moving average price is $7.96 and its two-hundred day moving average price is $7.83. The stock has a market cap of $1.46 billion, a PE ratio of -7.99 and a beta of 1.42. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26.

Insider Activity at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,219 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the transaction, the insider now owns 3,499,099 shares in the company, valued at $25,123,530.82. The trade was a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard L. Md Lindstrom bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the transaction, the director now directly owns 172,704 shares of the company’s stock, valued at $1,202,019.84. The trade was a 6.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 29,079 shares of company stock valued at $208,739 over the last ninety days. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in Ocular Therapeutix during the 4th quarter worth $28,000. Brooklyn Investment Group boosted its holdings in Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 3,155 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter worth about $43,000. AlphaQuest LLC purchased a new stake in shares of Ocular Therapeutix during the fourth quarter worth about $53,000. Finally, GAMMA Investing LLC increased its holdings in shares of Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 8,112 shares in the last quarter. 59.21% of the stock is 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.