Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) were down 5.5% during trading on Friday . The stock traded as low as $4.41 and last traded at $4.43, approximately 522,601 shares traded hands during trading. A decline of 23% from the average daily volume of 675,979 shares. The stock had previously closed at $4.69.
Several equities analysts have commented on OCUL shares. ValuEngine upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $8.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Friday, July 26th. HC Wainwright set a $9.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Tuesday, July 2nd. JMP Securities set a $9.00 price objective on shares of Ocular Therapeutix and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Raymond James lowered shares of Ocular Therapeutix from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $11.00 to $5.00 in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Ocular Therapeutix currently has an average rating of “Hold” and a consensus price target of $9.18.
The company’s fifty day moving average price is $4.73 and its 200-day moving average price is $4.07. The stock has a market cap of $221.35 million, a P/E ratio of -2.82 and a beta of 2.25. The company has a debt-to-equity ratio of 7.06, a quick ratio of 6.39 and a current ratio of 6.46.
Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.15). The firm had revenue of $0.65 million during the quarter, compared to the consensus estimate of $1.00 million. Ocular Therapeutix had a negative return on equity of 256.69% and a negative net margin of 3,450.84%. Analysts anticipate that Ocular Therapeutix Inc will post -1.59 earnings per share for the current fiscal year.
In related news, CEO Antony C. Mattessich purchased 40,000 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average price of $2.81 per share, with a total value of $112,400.00. Following the purchase, the chief executive officer now directly owns 97,900 shares of the company’s stock, valued at approximately $275,099. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Amarpreet Sawhney purchased 45,780 shares of Ocular Therapeutix stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average cost of $2.91 per share, for a total transaction of $133,219.80. Following the purchase, the chairman now directly owns 898,711 shares in the company, valued at $2,615,249.01. The disclosure for this purchase can be found here. Insiders bought a total of 229,248 shares of company stock valued at $669,811 in the last 90 days. Company insiders own 16.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Ocular Therapeutix by 36.2% in the second quarter. Royal Bank of Canada now owns 147,478 shares of the biopharmaceutical company’s stock valued at $648,000 after buying an additional 39,218 shares in the last quarter. Man Group plc increased its position in shares of Ocular Therapeutix by 25.2% in the second quarter. Man Group plc now owns 2,158,149 shares of the biopharmaceutical company’s stock valued at $9,496,000 after buying an additional 434,693 shares in the last quarter. Sio Capital Management LLC purchased a new position in shares of Ocular Therapeutix in the second quarter valued at $263,000. Vanguard Group Inc. increased its position in shares of Ocular Therapeutix by 14.3% in the second quarter. Vanguard Group Inc. now owns 1,871,947 shares of the biopharmaceutical company’s stock valued at $8,236,000 after buying an additional 234,360 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Ocular Therapeutix by 3.4% in the second quarter. BlackRock Inc. now owns 2,940,745 shares of the biopharmaceutical company’s stock valued at $12,939,000 after buying an additional 97,433 shares in the last quarter. 46.83% of the stock is currently owned by institutional investors.
Ocular Therapeutix Company Profile (NASDAQ:OCUL)
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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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