Ocular Therapeutix (NASDAQ:OCUL) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Ocular Therapeutix (NASDAQ:OCUL) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05, FiscalAI reports. Ocular Therapeutix had a negative return on equity of 64.28% and a negative net margin of 558.24%.The business had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same quarter in the prior year, the business posted ($0.39) earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year.

Ocular Therapeutix Stock Up 2.8%

Shares of NASDAQ OCUL opened at $8.40 on Tuesday. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -5.75 and a beta of 0.93. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. Ocular Therapeutix has a 12 month low of $6.23 and a 12 month high of $16.44. The stock has a 50-day moving average price of $9.15 and a two-hundred day moving average price of $9.17.

Insider Activity

In related news, insider Pravin Dugel sold 21,156 shares of the company’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 completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. Over the last 90 days, insiders have sold 28,999 shares of company stock worth $237,792. Insiders own 3.10% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently modified their holdings of OCUL. TCG Crossover Management LLC lifted its stake in shares of Ocular Therapeutix by 15.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after acquiring an additional 798,084 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Ocular Therapeutix by 15.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock worth $56,148,000 after purchasing an additional 620,700 shares in the last quarter. Geode Capital Management LLC raised its position in Ocular Therapeutix by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 4,356,547 shares of the biopharmaceutical company’s stock valued at $52,896,000 after purchasing an additional 1,018,094 shares during the last quarter. Janus Henderson Group PLC raised its position in Ocular Therapeutix by 106.5% in the fourth quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after purchasing an additional 2,180,702 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ocular Therapeutix by 21.3% during the fourth quarter. State Street Corp now owns 4,196,330 shares of the biopharmaceutical company’s stock valued at $50,943,000 after purchasing an additional 736,318 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OCUL. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Robert W. Baird upped 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. HC Wainwright reissued a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average price target of $25.11.

Ocular Therapeutix Company Profile

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.