Ocular Therapeutix (NASDAQ:OCUL) Trading Up 3.9% – Still a Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price shot up 3.9% during trading on Tuesday . The company traded as high as $9.48 and last traded at $9.44. 114,384 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,830,470 shares. The stock had previously closed at $9.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Robert W. Baird lowered their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright increased their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Ocular Therapeutix Price Performance

The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -7.39 and a beta of 1.26. The company has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $8.19.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several large investors have recently modified their holdings of the stock. Barclays PLC raised its position in Ocular Therapeutix by 37.1% during the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock worth $4,451,000 after buying an additional 138,441 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Ocular Therapeutix by 47.1% during the third quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock worth $4,027,000 after acquiring an additional 148,310 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Ocular Therapeutix during the third quarter worth about $4,288,000. Patient Square Capital LP acquired a new stake in Ocular Therapeutix in the third quarter valued at about $2,049,000. Finally, HighVista Strategies LLC lifted its position in Ocular Therapeutix by 5.1% in the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 3,168 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.