Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Free Report) insider Todd Anderman sold 11,984 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $7.29, for a total value of $87,363.36. Following the completion of the transaction, the insider directly owned 140,484 shares in the company, valued at $1,024,128.36. The trade was a 7.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.
Ocular Therapeutix Trading Up 2.5%
Shares of NASDAQ OCUL opened at $7.38 on Friday. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. Ocular Therapeutix, Inc. has a 1-year low of $6.23 and a 1-year high of $16.44. The business’s 50 day moving average is $9.60 and its 200-day moving average is $9.24.
Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. The business had revenue of $13.47 million during the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) EPS. Analysts expect that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Robert W. Baird boosted their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.86.
View Our Latest Research Report on OCUL
Institutional Investors Weigh In On Ocular Therapeutix
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $190,278,000. Avoro Capital Advisors LLC increased its stake in Ocular Therapeutix by 5.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after acquiring an additional 527,777 shares during the period. Summer Road LLC increased its stake in Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after acquiring an additional 771,270 shares during the period. Octagon Capital Advisors LP increased its stake in Ocular Therapeutix by 20.7% during the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock worth $26,821,000 after acquiring an additional 543,000 shares during the period. Finally, Commodore Capital LP acquired a new position in Ocular Therapeutix in the 1st quarter valued at $21,810,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.
Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.
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