Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 4.3% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was down 4.3% during trading on Thursday . The company traded as low as $13.14 and last traded at $13.13. Approximately 1,398,178 shares changed hands during trading, a decline of 37% from the average daily volume of 2,213,140 shares. The stock had previously closed at $13.72.

Analysts Set New Price Targets

OCUL has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, November 5th. JMP Securities raised their target price on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 1st. TD Cowen lifted their price objective on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Cowen restated a “buy” rating on shares of Ocular Therapeutix in a research note on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Ocular Therapeutix Stock Down 5.4%

The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $12.17 and a 200 day simple moving average of $11.51. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -9.01 and a beta of 0.96.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $14.54 million during the quarter, compared to the consensus estimate of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. As a group, analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $115,942.08. Following the sale, the insider owned 249,409 shares of the company’s stock, valued at approximately $2,753,475.36. This represents a 4.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Todd Anderman sold 11,132 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the sale, the insider owned 87,568 shares of the company’s stock, valued at $1,080,589.12. The trade was a 11.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,287 shares of company stock valued at $359,784 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of large investors have recently made changes to their positions in OCUL. Avoro Capital Advisors LLC boosted its stake in shares of Ocular Therapeutix by 38.5% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after acquiring an additional 2,850,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after purchasing an additional 771,065 shares in the last quarter. TCG Crossover Management LLC raised its position in shares of Ocular Therapeutix by 15.0% during 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 buying an additional 798,084 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Ocular Therapeutix by 44.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after purchasing an additional 1,600,000 shares during the period. Finally, Millennium Management LLC increased its position in Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after acquiring an additional 3,736,560 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.