Summer Road LLC recently announced the acquisition of new stake in Ocular Therapeutix Inc. (NASDAQ:OCUL). The institutional investor has increased its shareholding in the Healthcare company by 6.92% to 5.62 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 8.95% valued currently at $39.55 million. In addition, BlackRock Fund Advisors raised its holdings by 3482.0 to 2.6 million shares. And The Vanguard Group, Inc. has lifted its position by 3.77% or 72575.0 shares – to 2.0 million shares.
With over 0.56 million Ocular Therapeutix Inc. (OCUL) shares trading Wednesday and a closing price of $7.51 on the day, the dollar volume was approximately $4.18 million. The shares have shown a negative weekly performance of -9.84% and its price on 07/08/20 lost nearly 0.00%. Currently, there are 51.90M common shares owned by the public and among those 46.66M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for OCUL have a consensus price objective of $12.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ocular Therapeutix Inc. stock is 1.80 for the next 12 months. The average price target is 28.48% above its last price level and an upside to the estimated low will see the stock gain 24.9% over that period. But an upside of 49.93% will see the stock hit the forecast high price target while mean target price for the stock is $11.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 1,813,584 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Ocular Therapeutix Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.6 million shares of the company’s stock, all valued at over $11.26 million. The company bought an additional 0.44 million shares recently to bring their total holdings to about 2.55% of the shares outstanding. iShares Russell 2000 ETF bought 8798.0 shares to see its total holdings expand to 0.88 million shares valued at over $6.21 million and representing 1.40% of the shares outstanding. Vanguard Extended Market Index Fu bought 14826.0 shares to bring its total holdings to over 0.67 million shares at a value of $4.73 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.07% of the shares outstanding.
Shares of Ocular Therapeutix Inc. (NASDAQ: OCUL) opened at $7.57, up $0.06 from a prior closing price of $7.51. However, the script later closed the day at $7.51, down 0.00%. The company’s stock has a 5-day price change of -9.84% and 49.30% over the past three months. OCUL shares are trading 90.13% year to date (YTD), with the 12-month market performance up to 46.39% higher. It has a 12-month low price of $2.46 and touched a high of $9.24 over the same period. Currently, 0.56 million shares have been traded, compared to an average intraday trading volume of 976.94K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.66%, 3.88%, and 49.79% respectively.
Institutional ownership of Ocular Therapeutix Inc. (NASDAQ: OCUL) shares accounts for 46.00% of the company’s 51.90M shares outstanding. Mutual fund holders own 31.06%, while other institutional holders and individual stakeholders account for 36.87% and 10.47% respectively.
It has a market capitalization of $487.40M and a beta (3y monthly) value of 1.61. The stock’s earnings-per-share (ttm) stands at -$1.92. The company has a Quick Ratio of 4.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.02% over the week and 6.83% over the month.
Analysts forecast that Ocular Therapeutix Inc. (OCUL) will achieve an EPS of -$0.32 for the current quarter, -$0.27 for the next quarter and -$0.46 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.35 while analysts give the company a high EPS estimate of -$0.29. Comparatively, EPS for the current quarter was -$0.57 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.20%, and 60.20% over the next financial year. EPS over the next five years should compared to 6.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Ocular Therapeutix Inc. (OCUL) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OCUL, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on March 03, 2020. H.C. Wainwright coverage for the Ocular Therapeutix Inc. (OCUL) stock in a research note released on May 21, 2019 offered a Buy rating with a price target of $9. Raymond James was of a view on May 21, 2019 that the stock is Outperform, while Cowen gave the stock Market Perform rating on May 21, 2019, issuing a price target of $13- $3. Cantor Fitzgerald on their part issued Overweight rating on December 03, 2018.