Key Points
- Insider sale: Todd Anderman sold 11,984 Ocular Therapeutix shares at an average price of $7.29, worth $87,363. The Rule 10b5-1 transaction covered tax obligations tied to vested equity awards, reducing his holdings by 7.86% to 140,484 shares.
- Stock and financial performance: OCUL opened at $7.24, near its 52-week low of $6.23 and well below its $16.44 high. The company beat quarterly EPS and revenue estimates, but remains unprofitable with a negative net margin and analysts forecasting a full-year loss.
- Analyst outlook: Ocular Therapeutix has a consensus “Moderate Buy” rating from analysts, with a consensus price target of $22.86 versus the stock’s current price near $7. Institutional investors and hedge funds own 59.21% of the company.
Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Todd Anderman sold 11,984 shares of Ocular Therapeutix stock in a transaction dated 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 sale, the insider directly owned 140,484 shares in the company, valued at approximately $1,024,128.36. This represents a 7.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 4.2%
OCUL opened at $7.24 on Wednesday. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $9.66 and its 200 day simple moving average is $9.25.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.47 million during the quarter, compared to the consensus estimate 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 was down .1% compared to the same quarter last year. During the same period last year, the company earned ($0.39) earnings per share. As a group, equities research analysts forecast that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
OCUL has been the subject of several recent analyst reports. Zacks Research raised Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Chardan Capital restated a "buy" rating and set a $23.00 target price on shares of Ocular Therapeutix in a report on Friday, October 2nd. UBS Group assumed coverage on shares of Ocular Therapeutix in a research report on Sunday. They set a "buy" rating and a $14.00 price target on the stock. 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, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Ten 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.86.
Check Out Our Latest Research Report on Ocular Therapeutix
Hedge Funds Weigh In On Ocular Therapeutix
A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at $31,000. Hilton Head Capital Partners LLC raised its position in shares of Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,053 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Ocular Therapeutix in the second quarter valued at about $51,000. Quantinno Capital Management LP acquired a new stake in shares of Ocular Therapeutix during the 1st quarter worth about $98,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Ocular Therapeutix during the 2nd quarter worth about $112,000. Institutional investors and hedge funds own 59.21% of the company's stock.
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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