Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down to $6.17

Ocular Therapeutix, Inc. (NASDAQ:OCUL) gapped down prior to trading on Monday . The stock had previously closed at $6.17, but opened at $5.97. Ocular Therapeutix shares last traded at $5.96, with a volume of 1,779,436 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OCUL. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Ocular Therapeutix in a report on Friday, April 19th. Piper Sandler lifted their price objective on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Finally, Bank of America assumed coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.60.

Ocular Therapeutix Stock Down 2.2 %

The stock has a 50 day moving average price of $8.10 and a 200 day moving average price of $5.56. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $897.43 million, a price-to-earnings ratio of -4.74 and a beta of 1.47.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.28). The firm had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, analysts forecast that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Activity at Ocular Therapeutix

In related news, major shareholder Summer Road Llc purchased 930,851 shares of Ocular Therapeutix stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the transaction, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ocular Therapeutix

A number of institutional investors have recently modified their holdings of the company. Trust Co. of Vermont lifted its holdings in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 valued at $41,000 after purchasing an additional 7,152 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares during the period. Victory Capital Management Inc. acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $45,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Ocular Therapeutix during the 3rd quarter worth approximately $37,000. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile

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.