Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $87,363.36 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Todd Anderman sold 11,984 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $7.29, for a total transaction of $87,363.36. Following the completion of the sale, the insider directly owned 140,484 shares of the company’s stock, valued at $1,024,128.36. This trade represents a 7.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.

Ocular Therapeutix Trading Down 4.2%

Shares of OCUL stock traded down $0.32 on Tuesday, hitting $7.24. 3,214,263 shares of the company’s stock traded hands, compared to its average volume of 3,981,883. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -5.10 and a beta of 1.00. The company’s fifty day simple moving average is $9.68 and its 200 day simple moving average is $9.25. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. 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 (NASDAQ:OCUL) last posted 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 the consensus estimate of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.39) earnings per share. Equities analysts forecast that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group assumed coverage on Ocular Therapeutix in a report on Sunday. They set a “buy” rating and a $14.00 target price for the company. 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 report on Thursday, June 18th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, September 29th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price of $22.86.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently made changes to their positions in OCUL. Engineers Gate Manager LP bought a new position in shares of Ocular Therapeutix during the second quarter valued at approximately $401,000. Integrated Wealth Concepts LLC purchased a new stake in Ocular Therapeutix in the second quarter worth $51,000. NewEdge Advisors LLC lifted its stake in Ocular Therapeutix by 21.7% in the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 2,979 shares during the period. Squarepoint Ops LLC lifted its stake in Ocular Therapeutix by 44.4% in the second quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after acquiring an additional 435,156 shares during the period. Finally, Second Line Capital LLC boosted its holdings in Ocular Therapeutix by 20.9% in the second quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock valued at $6,271,000 after acquiring an additional 110,350 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

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.