Ocular Therapeutix (NASDAQ:OCUL) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.01 and traded as low as $9.02. Ocular Therapeutix shares last traded at $9.14, with a volume of 7,112,587 shares traded.

Analysts Set New Price Targets

OCUL has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Wednesday, November 5th. Piper Sandler upped their target price on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. HC Wainwright increased their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. TD Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Eleven equities 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Ocular Therapeutix Stock Down 8.1%

The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -6.35 and a beta of 0.93. 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 business’s 50-day moving average is $12.14 and its two-hundred day moving average is $12.01.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in OCUL. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after purchasing an additional 2,411,953 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after buying an additional 2,850,000 shares in the last quarter. TCG Crossover Management LLC lifted its holdings in Ocular Therapeutix by 15.0% during the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after buying an additional 798,084 shares during the last quarter. Millennium Management LLC boosted its holdings in Ocular Therapeutix by 3,136.1% in the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after purchasing an additional 3,736,560 shares during the period. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Ocular Therapeutix by 2.3% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 3,497,307 shares of the biopharmaceutical company’s stock valued at $40,884,000 after buying an additional 76,967 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.