Ocular Therapeutix (NASDAQ:OCUL) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.34 and traded as low as $10.92. Ocular Therapeutix shares last traded at $11.25, with a volume of 3,493,748 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OCUL. TD Cowen upped their price target on Ocular Therapeutix from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Robert W. Baird boosted their price objective on Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Piper Sandler upped their target price on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. JMP Securities raised their target price on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Ocular Therapeutix Stock Performance

The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.40 billion, a P/E ratio of -7.81 and a beta of 0.93. The stock has a fifty day simple moving average of $12.34 and a 200-day simple moving average of $11.90.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $14.54 million during the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. Equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in Ocular Therapeutix by 3,136.1% during the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after buying an additional 3,736,560 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Ocular Therapeutix by 2,003.2% in the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after purchasing an additional 2,850,000 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Ocular Therapeutix by 902.9% during the third quarter. Balyasny Asset Management L.P. now owns 2,189,276 shares of the biopharmaceutical company’s stock worth $25,593,000 after purchasing an additional 1,970,983 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at about $18,721,000. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.