Ocular Therapeutix Inc. (OCUL) shares are trading at lower $19.88 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $15.50.
To add more color to this target, the company’s high over the last year is $20.39 and the low is $3.69. Over the last 52 weeks, OCUL is up 354.92% while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, OCUL reported a profit of $5.43 million. Ocular Therapeutix Inc. also saw revenues increase to $5.88 million. In addition, OCUL has free cash flow of -$47.9 million as of 09-2020. The company’s EBITDA came in at -$13.34 million which compares well with its peers.
OCUL Return on Assets is -107.60%. All told, it is clear that, OCUL needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OCUL has a short ratio of 4.67 and outstanding shares of 62.99M.
OCUL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.43 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.77. Ocular Therapeutix Inc. OCUL also noted assets of $98.22 million at the end of the last quarter. Investors should also keep an eye on sector updates as OCUL has historically followed its peers on positive news.
All told, Ocular Therapeutix Inc. OCUL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OCUL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Ocular Therapeutix Inc. OCUL is now commanding a market cap of 1.33B and a float of 62.64M. OCUL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OCUL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in OCUL, either long or short, and we have not been compensated for this article.