Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Up – Still a Buy?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OCUL. Needham & Company LLC began coverage on Ocular Therapeutix in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday. They issued an “outperform” rating and a $17.00 price target for the company. Finally, JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Stock Performance

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

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

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the sale, the insider now directly owns 193,444 shares of the company’s stock, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,895 shares of company stock worth $283,772. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of OCUL. Point72 Asset Management L.P. grew its holdings in shares of Ocular Therapeutix by 43.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company’s stock valued at $25,073,000 after acquiring an additional 895,304 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after acquiring an additional 660,080 shares during the period. Braidwell LP boosted its stake in Ocular Therapeutix by 36.3% in the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock valued at $19,486,000 after acquiring an additional 596,000 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Ocular Therapeutix during the 3rd quarter worth approximately $4,288,000. Finally, Millennium Management LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $3,819,000. 59.21% of the stock is currently owned by 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.