Ocular Therapeutix (NASDAQ:OCUL) Shares Down 6.5% on Analyst Downgrade

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price traded down 6.5% during trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $15.00 to $14.00. Needham & Company LLC currently has a buy rating on the stock. Ocular Therapeutix traded as low as $7.31 and last traded at $7.23. 463,332 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,387,175 shares. The stock had previously closed at $7.73.

OCUL has been the topic of a number of other research reports. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an “outperform” rating on the stock. Royal Bank of Canada began coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now owns 3,520,318 shares in the company, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $28,000. Atlas Capital Advisors Inc. bought a new stake in shares of Ocular Therapeutix during the 4th quarter worth $43,000. AlphaQuest LLC bought a new position in Ocular Therapeutix in the fourth quarter valued at $53,000. GAMMA Investing LLC raised its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 8,112 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Ocular Therapeutix by 2,045.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 8,446 shares during the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Down 6.7 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a market capitalization of $1.15 billion, a P/E ratio of -5.46 and a beta of 1.51. The stock has a 50 day moving average price of $7.41 and a 200-day moving average price of $8.36.

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 firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

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.