Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5.8% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares traded down 5.8% on Tuesday . The company traded as low as $6.92 and last traded at $6.91. 175,407 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,539,508 shares. The stock had previously closed at $7.33.

Analysts Set New Price Targets

A number of research firms recently commented on OCUL. Needham & Company LLC began coverage on shares of Ocular Therapeutix in a report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Royal Bank of Canada began coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Ocular Therapeutix Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The stock has a market capitalization of $1.10 billion, a PE ratio of -5.23 and a beta of 1.34. The business’s 50-day moving average price is $7.51 and its 200 day moving average price is $8.75.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In related news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the sale, the insider now owns 204,563 shares in the company, valued at $1,603,773.92. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after purchasing an additional 660,080 shares during the last quarter. Patient Square Capital LP bought a new stake in shares of Ocular Therapeutix in the 3rd quarter valued at about $2,049,000. Polar Asset Management Partners Inc. bought a new stake in shares of Ocular Therapeutix in the 3rd quarter valued at about $4,288,000. FMR LLC boosted its holdings in Ocular Therapeutix by 7,098.7% during the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock valued at $3,779,000 after acquiring an additional 428,335 shares during the period. Finally, Barclays PLC grew its position in Ocular Therapeutix by 37.1% during the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock worth $4,451,000 after acquiring an additional 138,441 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

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.