Ocular Therapeutix (NASDAQ:OCUL) Trading Down 4.8% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price fell 4.8% during mid-day trading on Tuesday . The company traded as low as $6.98 and last traded at $6.95. 1,154,350 shares were traded during trading, a decline of 19% from the average session volume of 1,421,460 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Royal Bank of Canada began coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target on the stock. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, William Blair initiated coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Ocular Therapeutix Stock Performance

The company’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $7.98. 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 cap of $1.11 billion, a PE ratio of -5.26 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for 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%. Analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, Director Richard L. Md Lindstrom acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the purchase, the director now owns 172,704 shares in the company, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently bought and sold shares of OCUL. GF Fund Management CO. LTD. bought a new position in shares of Ocular Therapeutix during the 4th quarter worth $28,000. Brooklyn Investment Group lifted its holdings in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix during the fourth quarter worth about $43,000. AlphaQuest LLC purchased a new position in shares of Ocular Therapeutix in the fourth quarter worth about $53,000. Finally, GAMMA Investing LLC raised its position in shares of Ocular Therapeutix by 6,760.0% in 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 during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.