Ocular Therapeutix (NASDAQ:OCUL) Reaches New 12-Month High – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.10 and last traded at $15.78, with a volume of 5673413 shares. The stock had previously closed at $12.58.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, November 5th. TD Cowen raised their price objective on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Chardan Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. JMP Securities increased their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Ocular Therapeutix in a report on Monday. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.56.

Ocular Therapeutix Price Performance

The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -11.11 and a beta of 0.96. The stock’s 50-day simple moving average is $11.63 and its 200 day simple moving average is $11.13.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. The business had revenue of $14.54 million during the quarter, compared to analysts’ expectations of $14.57 million. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Peter Kaiser sold 9,653 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total value of $106,472.59. Following the sale, the insider owned 194,440 shares in the company, valued at approximately $2,144,673.20. The trade was a 4.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey S. Heier sold 10,502 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $115,942.08. Following the transaction, the insider directly owned 249,409 shares in the company, valued at approximately $2,753,475.36. The trade was a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,287 shares of company stock worth $359,784 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of OCUL. Nisa Investment Advisors LLC increased its stake in Ocular Therapeutix by 62.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares during the period. Brooklyn Investment Group boosted its stake in shares of Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares in the last quarter. Trust Co. of Vermont increased its stake in Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,000 shares during the period. Finally, Quarry LP purchased a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $80,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.