Ocular Therapeutix Sees Unusually Large Options Volume (NASDAQ:OCUL)

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the target of unusually large options trading activity on Friday. Stock traders bought 11,873 put options on the company. This represents an increase of 287% compared to the typical daily volume of 3,069 put options.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL traded up $0.12 on Friday, hitting $11.40. The stock had a trading volume of 2,235,851 shares, compared to its average volume of 5,733,851. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -7.87 and a beta of 0.93. Ocular Therapeutix has a twelve month low of $5.78 and a twelve month high of $16.44. The firm’s 50 day moving average price is $12.32 and its 200-day moving average price is $11.96.

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

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $57,000 after purchasing an additional 893 shares during the last quarter. Trust Co. of Vermont raised its position in Ocular Therapeutix by 16.1% in the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ocular Therapeutix by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 1,314 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,392 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Ocular Therapeutix by 9.9% in the third quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock worth $294,000 after buying an additional 2,272 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OCUL shares. Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. JMP Securities boosted their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, October 1st. HC Wainwright upped their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Piper Sandler lifted their price objective on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Ocular Therapeutix Company Profile

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.