Ocular Therapeutix (NASDAQ:OCUL) Trading Down 5.3%

Ocular Therapeutix, Inc. (NASDAQ:OCULGet Free Report)’s stock price dropped 5.3% during mid-day trading on Thursday . The company traded as low as $5.18 and last traded at $5.20. Approximately 227,975 shares traded hands during trading, a decline of 90% from the average daily volume of 2,250,325 shares. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OCUL shares. Piper Sandler assumed coverage on shares of Ocular Therapeutix in a report on Friday, May 31st. They issued an “overweight” rating and a $15.00 target price on the stock. Bank of America began coverage on shares of Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 price objective for the company. TD Cowen dropped their price target on Ocular Therapeutix from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, JMP Securities dropped their price objective on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and an average price target of $15.17.

Get Our Latest Stock Analysis on OCUL

Ocular Therapeutix Trading Down 5.0 %

The company’s 50 day moving average price is $6.25 and its 200 day moving average price is $6.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 21.29 and a current ratio of 21.39.

Ocular Therapeutix (NASDAQ:OCULGet Free Report) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Ocular Therapeutix had a negative return on equity of 76.64% and a negative net margin of 192.61%. The business had revenue of $14.77 million for the quarter, compared to analyst estimates of $15.43 million. Equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its stake in shares of Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 7,152 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,730 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $45,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at about $94,000. Institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

(Get Free Report)

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.

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