Ocular Therapeutix (NASDAQ:OCUL) Issues Earnings Results, Beats Estimates By $0.02 EPS

Ocular Therapeutix (NASDAQ:OCUL) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02, Zacks reports. The company had revenue of $14.54 million for the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%.

Ocular Therapeutix Stock Performance

Shares of OCUL stock traded down $0.18 during trading hours on Wednesday, hitting $10.72. The company’s stock had a trading volume of 1,051,797 shares, compared to its average volume of 2,057,889. The company has a 50 day moving average of $12.05 and a 200 day moving average of $10.47. The stock has a market cap of $1.87 billion, a PE ratio of -8.39 and a beta of 1.45. The company has a current ratio of 10.10, a quick ratio of 10.02 and a debt-to-equity ratio of 0.23. Ocular Therapeutix has a 12-month low of $5.78 and a 12-month high of $13.85.

Analyst Ratings Changes

OCUL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 8th. HC Wainwright increased their price target on shares of Ocular Therapeutix from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JMP Securities increased their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 1st. Piper Sandler increased their price target on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Activity

In other news, insider Pravin Dugel sold 21,494 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $258,787.76. Following the transaction, the insider directly owned 3,227,244 shares of the company’s stock, valued at approximately $38,856,017.76. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter Kaiser sold 9,653 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares in the company, valued at approximately $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,806 shares of company stock valued at $727,648. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OCUL. Rafferty Asset Management LLC boosted its stake in shares of Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 2,343 shares during the period. Prudential Financial Inc. boosted its stake in shares of Ocular Therapeutix by 57.9% in the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 6,855 shares during the period. Creative Planning boosted its stake in shares of Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 3,791 shares during the period. Caxton Associates LLP purchased a new position in Ocular Therapeutix in the first quarter worth approximately $248,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Ocular Therapeutix by 127.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 27,185 shares of the biopharmaceutical company’s stock worth $253,000 after acquiring an additional 15,209 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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 in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.