Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 9.5% – Time to Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was up 9.5% during mid-day trading on Friday . The stock traded as high as $7.20 and last traded at $7.6970. Approximately 504,364 shares were traded during trading, a decline of 92% from the average daily volume of 6,703,719 shares. The stock had previously closed at $7.03.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several research analyst reports. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. TD Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday. Finally, Chardan Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a report on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Trading Up 10.7%

The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.69 billion, a P/E ratio of -5.40 and a beta of 0.90. The company’s 50 day simple moving average is $10.76 and its 200-day simple moving average is $11.68.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results 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 return on equity of 70.68% and a negative net margin of 511.90%.The firm had revenue of $13.25 million for the quarter, compared to analysts’ expectations of $16.13 million. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. The company’s quarterly revenue was down 22.4% on a year-over-year basis. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Pravin Dugel sold 124,882 shares of Ocular Therapeutix stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $1,128,933.28. Following the completion of the sale, the insider directly owned 3,033,078 shares in the company, valued at approximately $27,419,025.12. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Nayak sold 10,348 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $93,545.92. Following the completion of the transaction, the insider owned 332,412 shares in the company, valued at approximately $3,005,004.48. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 166,029 shares of company stock worth $1,498,430. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of OCUL. Steward Partners Investment Advisory LLC raised its stake in shares of Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ocular Therapeutix by 1.8% during the 2nd 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 during the period. Nisa Investment Advisors LLC raised its position in Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares in the last quarter. Trust Co. of Vermont raised its position in Ocular Therapeutix by 24.3% during the 4th quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 9.9% in the 3rd 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 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.