Ocular Therapeutix (NASDAQ:OCUL) Stock Price Up 4.9% – Should You Buy?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) were up 4.9% during mid-day trading on Wednesday . The stock traded as high as $10.75 and last traded at $10.73. Approximately 309,425 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,956,161 shares. The stock had previously closed at $10.23.

Wall Street Analysts Forecast Growth

OCUL has been the subject of a number of research analyst reports. Robert W. Baird lowered their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Friday, June 21st. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a research note on Wednesday. Scotiabank assumed coverage on shares of Ocular Therapeutix in a research report on Wednesday. They issued a “sector outperform” rating and a $22.00 price target for the company. Finally, TD Cowen lowered Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Ocular Therapeutix Stock Down 3.3 %

The firm’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $7.44. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -8.21 and a beta of 1.29.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. During the same quarter in the previous year, the firm posted ($0.27) EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new stake in Ocular Therapeutix during the third quarter worth approximately $182,000. Essex Investment Management Co. LLC grew its position in shares of Ocular Therapeutix by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after buying an additional 1,168 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Ocular Therapeutix in the 3rd quarter valued at $106,000. SG Americas Securities LLC acquired a new stake in Ocular Therapeutix during the 3rd quarter worth $393,000. Finally, Cetera Investment Advisers lifted its position in Ocular Therapeutix by 1.8% in the second quarter. Cetera Investment Advisers now owns 739,044 shares of the biopharmaceutical company’s stock valued at $5,055,000 after acquiring an additional 13,054 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

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.