Ocular Therapeutix (NASDAQ:OCUL) Trading 6.1% Higher

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price rose 6.1% on Monday . The company traded as high as $6.76 and last traded at $6.63. Approximately 895,395 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,329,325 shares. The stock had previously closed at $6.25.

Analyst Ratings Changes

OCUL has been the subject of several research reports. JMP Securities reduced their price target on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. TD Cowen downgraded shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Friday, June 21st. StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Ocular Therapeutix Price Performance

The firm has a market capitalization of $1.03 billion, a PE ratio of -4.91 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 21.29 and a current ratio of 21.39. The business’s 50 day moving average is $5.63 and its two-hundred day moving average is $6.33.

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

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in Ocular Therapeutix during the 1st quarter worth approximately $65,055,000. Franklin Resources Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at $20,071,000. Vanguard Group Inc. increased its holdings in shares of Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Great Point Partners LLC purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth $3,122,000. Finally, Cetera Advisors LLC boosted its stake in Ocular Therapeutix by 1,455.0% during the first quarter. Cetera Advisors LLC now owns 723,490 shares of the biopharmaceutical company’s stock valued at $6,584,000 after buying an additional 676,963 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

About Ocular Therapeutix

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.