Sei Investments Co. boosted its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) by 52.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,164 shares of the biopharmaceutical company’s stock after buying an additional 88,491 shares during the quarter. Sei Investments Co. owned 0.12% of Ocular Therapeutix worth $2,187,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Empire Life Investments Inc. raised its position in shares of Ocular Therapeutix by 115.0% during the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock worth $6,557,000 after purchasing an additional 288,853 shares during the period. Candriam S.C.A. boosted its position in shares of Ocular Therapeutix by 12.8% in the 1st quarter. Candriam S.C.A. now owns 949,216 shares of the biopharmaceutical company’s stock valued at $8,040,000 after purchasing an additional 107,614 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $3,800,000. Pictet Asset Management Holding SA increased its stake in Ocular Therapeutix by 1,229.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 362,596 shares of the biopharmaceutical company’s stock worth $3,071,000 after purchasing an additional 335,324 shares in the last quarter. Finally, Beacon Investment Advisors LLC purchased a new position in Ocular Therapeutix in the 4th quarter worth about $2,010,000. Institutional investors own 59.21% of the company’s stock.
Wall Street Analysts Forecast Growth
OCUL has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Zacks Research downgraded shares of Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Finally, Robert W. Baird lifted their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.75.
Insider Activity at Ocular Therapeutix
In related news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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. Insiders have sold 28,999 shares of company stock worth $237,792 in the last ninety days. Company insiders own 3.10% of the company’s stock.
Ocular Therapeutix Trading Up 5.1%
Shares of NASDAQ OCUL opened at $9.19 on Friday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The firm has a market capitalization of $2.02 billion, a PE ratio of -6.47 and a beta of 0.93. The company has a current ratio of 13.10, a quick ratio of 14.73 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $9.15 and a two-hundred day moving average price of $9.11.
Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $13.47 million for 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 business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, analysts predict that Ocular Therapeutix, Inc. will post -1.5 earnings per share for the current fiscal year.
About Ocular Therapeutix
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.
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