Key Points
- Insider sale: Peter Kaiser sold 9,990 Ocular Therapeutix shares at an average of $7.05, totaling $70,429.50. The transaction occurred under a Rule 10b5-1 plan to cover tax withholding, leaving him with 254,388 shares.
- Financial performance: Ocular Therapeutix reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, beating analyst estimates of $13.20 million and a $0.40 loss, respectively. Analysts expect a full-year loss of $1.47 per share.
- Analyst outlook: The stock has a “Moderate Buy” consensus rating, with an average price target of $24.33 versus a recent share price near $7.34; nine analysts rate it Buy, one Hold, and one Sell.
Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Peter Kaiser sold 9,990 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $7.05, for a total transaction of $70,429.50. Following the completion of the sale, the insider directly owned 254,388 shares in the company, valued at $1,793,435.40. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.
Peter Kaiser also recently made the following trade(s):
- On Monday, August 24th, Peter Kaiser sold 3,035 shares of Ocular Therapeutix stock. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95.
Ocular Therapeutix Stock Up 1.2%
Shares of NASDAQ OCUL opened at $7.34 on Wednesday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -5.17 and a beta of 1.00. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The business's 50 day moving average is $9.75 and its two-hundred day moving average is $9.27.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. During the same period last year, the business posted ($0.39) earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.
Institutional Trading of Ocular Therapeutix
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Ocular Therapeutix in the 2nd quarter valued at about $190,278,000. Commodore Capital LP purchased a new stake in shares of Ocular Therapeutix during the first quarter worth approximately $21,810,000. Readystate Asset Management LP acquired a new stake in Ocular Therapeutix in the first quarter valued at approximately $7,484,000. Defilade Capital Management L.P. raised its holdings in Ocular Therapeutix by 118.2% in the first quarter. Defilade Capital Management L.P. now owns 1,487,645 shares of the biopharmaceutical company's stock valued at $12,600,000 after acquiring an additional 805,982 shares in the last quarter. Finally, Spruce Street Capital LP purchased a new position in Ocular Therapeutix in the fourth quarter worth approximately $9,518,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
OCUL has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of Ocular Therapeutix in a report on Wednesday, September 16th. Chardan Capital reiterated a "buy" rating and set a $23.00 price target on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Finally, Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.33.
Read Our Latest Stock Analysis on OCUL
About Ocular Therapeutix
(
Get Free Report)
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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