Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – Here’s Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) gapped up before the market opened on Tuesday . The stock had previously closed at $7.94, but opened at $8.24. Ocular Therapeutix shares last traded at $7.93, with a volume of 79,448 shares.

Analysts Set New Price Targets

OCUL has been the topic of a number of research reports. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a research report on Tuesday. They issued an “outperform” rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Needham & Company LLC began coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.38.

Ocular Therapeutix Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -5.83 and a beta of 1.34. The business’s 50-day moving average price is $7.61 and its 200 day moving average price is $8.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Donald Notman sold 11,119 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total transaction of $86,839.39. Following the sale, the insider now directly owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,895 shares of company stock valued at $283,772 over the last ninety days. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OCUL. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $28,000. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix in the 4th quarter valued at $43,000. AlphaQuest LLC purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth approximately $53,000. Tower Research Capital LLC TRC grew its stake in Ocular Therapeutix by 2,045.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 8,446 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Ocular Therapeutix during the 4th quarter valued at approximately $90,000. 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.