Ocular Therapeutix (NASDAQ:OCUL) Issues Quarterly Earnings Results

Ocular Therapeutix (NASDAQ:OCUL) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06), FiscalAI reports. The company had revenue of $12.87 million during the quarter, compared to analysts’ expectations of $14.27 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $6.59 on Monday. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. Ocular Therapeutix has a fifty-two week low of $6.00 and a fifty-two week high of $16.44. The business has a 50 day moving average price of $8.40 and a two-hundred day moving average price of $9.02. The firm has a market cap of $1.45 billion, a PE ratio of -4.64 and a beta of 1.22.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a report on Monday, October 19th. Chardan Capital restated a “buy” rating and issued a $23.00 price target on shares of Ocular Therapeutix in a report on Friday, October 2nd. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.33.

Insiders Place Their Bets

In other news, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the sale, the insider owned 2,525,429 shares of the company’s stock, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey S. Heier sold 10,869 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $7.05, for a total transaction of $76,626.45. Following the completion of the sale, the insider directly owned 307,457 shares in the company, valued at $2,167,571.85. This represents a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 62,720 shares of company stock valued at $556,247. Company insiders own 3.10% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.