Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) traded down 5.3% during trading on Friday . The company traded as low as $3.92 and last traded at $3.94. 531,770 shares changed hands during trading, an increase of 7% from the average session volume of 499,239 shares. The stock had previously closed at $4.16.
OCUL has been the subject of several recent analyst reports. Zacks Investment Research raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 4th. Cowen reaffirmed a “buy” rating and issued a $13.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 4th. BidaskClub raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Sunday, December 2nd. Finally, Piper Jaffray Companies set a $14.00 price target on Ocular Therapeutix and gave the stock a “buy” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.61.
The company has a debt-to-equity ratio of 0.69, a current ratio of 6.14 and a quick ratio of 6.11. The stock has a market capitalization of $179.07 million, a price-to-earnings ratio of -2.51 and a beta of 1.89.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.05). Ocular Therapeutix had a negative net margin of 3,013.97% and a negative return on equity of 136.09%. The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.45 million. Analysts anticipate that Ocular Therapeutix Inc will post -1.58 earnings per share for the current year.
In related news, Director Richard L. Md Lindstrom acquired 56,441 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $4.33 per share, for a total transaction of $244,389.53. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $433,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael H. Goldstein acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $4.15 per share, with a total value of $41,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 90,441 shares of company stock valued at $385,490 in the last ninety days. Insiders own 15.90% of the company’s stock.
Several large investors have recently made changes to their positions in OCUL. Geode Capital Management LLC boosted its stake in Ocular Therapeutix by 15.2% during the fourth quarter. Geode Capital Management LLC now owns 350,673 shares of the biopharmaceutical company’s stock worth $1,395,000 after buying an additional 46,281 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Ocular Therapeutix by 31.3% in the 4th quarter. Millennium Management LLC now owns 210,273 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 50,118 shares during the last quarter. Summer Road LLC lifted its stake in shares of Ocular Therapeutix by 25.0% in the 4th quarter. Summer Road LLC now owns 3,784,850 shares of the biopharmaceutical company’s stock valued at $15,064,000 after purchasing an additional 757,362 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Ocular Therapeutix by 197.0% in the 4th quarter. Bank of America Corp DE now owns 26,271 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 17,425 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Ocular Therapeutix by 269.5% in the 4th quarter. Two Sigma Investments LP now owns 70,181 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 51,186 shares during the last quarter. Institutional investors own 50.50% of the company’s stock.
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About Ocular Therapeutix (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. Its lead product candidates include DEXTENZA (dexamethasone insert) for the treatment of post-surgical ocular pain and inflammation, allergic conjunctivitis, and dry eye diseases; and OTX-TP (travoprost insert) for the reduction of intraocular pressure (IOP) in patients with glaucoma and ocular hypertension.
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