Key Points
- Insider sale: Pravin Dugel sold 21,649 Ocular Therapeutix shares for approximately $233,160 at $10.77 per share. The transaction was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 2.53 million shares.
- Financial performance: Ocular Therapeutix reported a quarterly loss of $0.35 per share, beating estimates of a $0.40 loss, while revenue of $13.47 million slightly exceeded expectations. The company remains unprofitable, with a negative net margin of 579.1%.
- Investor and analyst sentiment: Institutional investors own 59.21% of the stock, and analysts collectively assign OCUL a “Moderate Buy” rating with an average price target of $25.75, well above its recent $10.77 price.
Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Sanjay Nayak sold 1,897 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $20,449.66. Following the sale, the insider owned 326,898 shares of the company's stock, valued at $3,523,960.44. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Down 1.0%
Shares of OCUL opened at $10.77 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -7.58 and a beta of 0.93. The business's fifty day moving average is $9.63 and its 200-day moving average is $9.15.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.Ocular Therapeutix's revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) earnings per share. Equities analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on OCUL. Royal Bank Of Canada reiterated an "outperform" rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Chardan Capital reiterated a "buy" rating and set a $23.00 price target on shares of Ocular Therapeutix in a report on Tuesday, August 4th. HC Wainwright reiterated a "buy" rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research raised Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, Robert W. Baird increased their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of "Moderate Buy" and an average target price of $25.75.
Check Out Our Latest Analysis on OCUL
Hedge Funds Weigh In On Ocular Therapeutix
Several large investors have recently modified their holdings of OCUL. Steward Partners Investment Advisory LLC grew its stake in shares of Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Ocular Therapeutix in the 4th quarter worth approximately $31,000. Hilton Head Capital Partners LLC bought a new stake in Ocular Therapeutix during the fourth quarter valued at $42,000. Atlas Capital Advisors Inc. bought a new stake in shares of Ocular Therapeutix during the 4th quarter valued at about $61,000. Finally, State of Wyoming bought a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $78,000. Institutional investors own 59.21% of the company's stock.
About Ocular Therapeutix
(
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.
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