Ocular Therapeutix (NASDAQ:OCUL) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Ocular Therapeutix (NASDAQ:OCULGet Free Report) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05, FiscalAI reports. Ocular Therapeutix had a negative net margin of 558.24% and a negative return on equity of 64.28%. The company had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million.

Ocular Therapeutix Price Performance

OCUL stock opened at $8.17 on Monday. The stock has a market cap of $1.79 billion, a PE ratio of -5.60 and a beta of 0.93. Ocular Therapeutix has a 12 month low of $6.23 and a 12 month high of $16.44. The company has a 50-day moving average price of $9.15 and a 200 day moving average price of $9.18. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 28,999 shares of company stock valued at $237,792. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ocular Therapeutix by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock valued at $686,000 after acquiring an additional 5,156 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Ocular Therapeutix in the first quarter worth about $248,000. Creative Planning increased its stake in Ocular Therapeutix by 21.5% in the 2nd quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 3,791 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ocular Therapeutix by 110.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock valued at $6,608,000 after buying an additional 374,269 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Ocular Therapeutix by 57.9% in the 2nd quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 6,855 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Chardan Capital boosted their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Zacks Research lowered Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Finally, Robert W. Baird raised their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average price target of $25.11.

View Our Latest Stock Report on OCUL

Ocular Therapeutix Company Profile

(Get Free Report)

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

Further Reading

Earnings History for Ocular Therapeutix (NASDAQ:OCUL)

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