Ocular Therapeutix (NASDAQ:OCUL) Share Price Passes Above 50-Day Moving Average of $5.21

Ocular Therapeutix, Inc. (NASDAQ:OCULGet Rating) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.21 and traded as high as $5.79. Ocular Therapeutix shares last traded at $5.72, with a volume of 444,029 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JMP Securities increased their price target on Ocular Therapeutix from $20.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Piper Sandler dropped their price objective on Ocular Therapeutix from $16.00 to $10.00 in a research report on Friday, May 27th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.50.

Ocular Therapeutix Stock Performance

The business has a 50-day moving average of $5.21 and a two-hundred day moving average of $4.50. The company has a market cap of $440.25 million, a P/E ratio of -6.15 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 6.14 and a quick ratio of 6.08.

Ocular Therapeutix (NASDAQ:OCULGet Rating) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). Ocular Therapeutix had a negative net margin of 65.11% and a negative return on equity of 43.96%. The company had revenue of $12.27 million for the quarter, compared to the consensus estimate of $13.81 million. On average, sell-side analysts predict that Ocular Therapeutix, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hikari Power Ltd raised its stake in Ocular Therapeutix by 41.7% in the first quarter. Hikari Power Ltd now owns 17,000 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 5,000 shares during the last quarter. Endurant Capital Management LP raised its stake in Ocular Therapeutix by 28.8% in the first quarter. Endurant Capital Management LP now owns 923,963 shares of the biopharmaceutical company’s stock valued at $4,574,000 after buying an additional 206,820 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Ocular Therapeutix by 147.4% in the fourth quarter. Qube Research & Technologies Ltd now owns 78,242 shares of the biopharmaceutical company’s stock valued at $545,000 after buying an additional 46,617 shares during the last quarter. Altium Capital Management LP raised its stake in Ocular Therapeutix by 25.0% in the fourth quarter. Altium Capital Management LP now owns 695,000 shares of the biopharmaceutical company’s stock valued at $4,844,000 after buying an additional 139,000 shares during the last quarter. Finally, Coastal Bridge Advisors LLC purchased a new position in shares of Ocular Therapeutix in the fourth quarter worth about $76,000. 57.61% of the stock is currently owned by hedge funds and other institutional investors.

About Ocular Therapeutix

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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. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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