Ocular Therapeutix (NASDAQ:OCUL) Trading 9.3% Higher – Should You Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price rose 9.3% on Tuesday . The company traded as high as $8.14 and last traded at $8.0850. Approximately 2,003,994 shares were traded during trading, a decline of 68% from the average daily volume of 6,250,368 shares. The stock had previously closed at $7.40.

Wall Street Analysts Forecast Growth

OCUL has been the topic of several research reports. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Needham & Company LLC lowered their target price on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. Finally, Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Twelve 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. According to MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $23.78.

Ocular Therapeutix Price Performance

The stock has a 50-day moving average of $9.04 and a two-hundred day moving average of $10.99. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -5.78 and a beta of 0.95. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The company had revenue of $13.25 million during the quarter, compared to analyst estimates of $16.13 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. The business’s quarterly revenue was down 22.4% on a year-over-year basis. On average, analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Sanjay Nayak sold 10,348 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the sale, the insider owned 332,412 shares in the company, valued at $3,005,004.48. This represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nadia Waheed sold 3,510 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.74, for a total transaction of $27,167.40. Following the completion of the transaction, the insider directly owned 314,907 shares in the company, valued at $2,437,380.18. This trade represents a 1.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 197,221 shares of company stock worth $1,754,805. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,242 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares in the last quarter. Trust Co. of Vermont raised its holdings in Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 1,750 shares in the last quarter. Profund Advisors LLC raised its holdings in Ocular Therapeutix by 9.9% during the third quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company’s stock valued at $294,000 after buying an additional 2,272 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 2,343 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.