Opaleye Management, Inc. 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 16.82% to 5.98 million shares with purchase of 0.86 million shares. This fresh investment now brings its stake to 9.53% valued currently at $46.92 million. In addition, Summer Road LLC raised its holdings by 0.36 million to 5.62 million shares. And BlackRock Fund Advisors has lifted its position by 25.69% or 0.67 million shares – to 3.27 million shares.
With over 1.27 million Ocular Therapeutix Inc. (OCUL) shares trading Friday and a closing price of $8.75 on the day, the dollar volume was approximately $11.08 million. The shares have shown a positive weekly performance of 4.54% and its price on 08/28/20 lost nearly -6.91%. Currently, there are 57.37M common shares owned by the public and among those 54.21M 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 $13.20. 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 23.91% above its last price level and an upside to the estimated low will see the stock gain 12.5% over that period. But an upside of 41.67% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.
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 $12.54 million. iShares Russell 2000 ETF sold 49504.0 shares to see its total holdings shrink to 1.06 million shares valued at over $8.29 million and representing 1.69% of the shares outstanding. Vanguard Extended Market Index Fu sold 2048.0 shares to bring its total holdings to over 0.86 million shares at a value of $6.72 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.37% of the shares outstanding.
Shares of Ocular Therapeutix Inc. (NASDAQ: OCUL) opened at $9.37, down -$0.03 from a prior closing price of $9.40. However, the script later closed the day at $8.75, down -6.91%. The company’s stock has a 5-day price change of 4.54% and 22.55% over the past three months. OCUL shares are trading 121.52% year to date (YTD), with the 12-month market performance up to 109.83% higher. It has a 12-month low price of $2.46 and touched a high of $9.99 over the same period. Currently, 1.27 million shares have been traded, compared to an average intraday trading volume of 827.43K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.37%, 4.74%, and 47.18% respectively.
Institutional ownership of Ocular Therapeutix Inc. (NASDAQ: OCUL) shares accounts for 62.10% of the company’s 57.37M shares outstanding. Mutual fund holders own 36.87%, while other institutional holders and individual stakeholders account for 45.00% and 12.92% respectively.
It has a market capitalization of $591.76M and a beta (3y monthly) value of 1.50. The earnings-per-share (ttm) stands at -$1.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.14% over the week and 6.66% over the month.
Analysts forecast that Ocular Therapeutix Inc. (OCUL) will achieve an EPS of -$0.27 for the current quarter, -$0.25 for the next quarter and -$0.72 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.20%, and 49.70% over the next financial year.
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. H.C. Wainwright stated their Buy rating for the stock in a research note on August 10, 2020, with the firm’s price target at $10-$13. Raymond James coverage for the Ocular Therapeutix Inc. (OCUL) stock in a research note released on March 03, 2020 offered a Strong Buy rating with a price target of. H.C. Wainwright was of a view on May 21, 2019 that the stock is Buy, while Raymond James gave the stock Outperform rating on May 21, 2019, issuing a price target of $11- $5. Cowen on their part issued Market Perform rating on May 21, 2019.