Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5.9% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was down 5.9% during mid-day trading on Friday . The company traded as low as $10.37 and last traded at $10.4670. Approximately 1,882,021 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 5,389,653 shares. The stock had previously closed at $11.12.

Analysts Set New Price Targets

Several analysts have issued reports on OCUL shares. Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, December 9th. HC Wainwright lifted their price target on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Robert W. Baird upped their price objective on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Ocular Therapeutix in a research note on Monday, December 8th. Finally, Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Eleven 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.56.

Ocular Therapeutix Price Performance

The company has a current ratio of 7.85, a quick ratio of 7.78 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $12.34 and a two-hundred day moving average of $12.03. The company has a market capitalization of $2.18 billion, a PE ratio of -7.09 and a beta of 0.93.

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

Institutional Trading of Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Ocular Therapeutix by 17.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares in the last quarter. Quarry LP bought a new position in shares of Ocular Therapeutix in the 3rd quarter worth approximately $80,000. Trust Co. of Vermont boosted its position in shares of Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Ocular Therapeutix in the 3rd quarter worth about $126,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About Ocular Therapeutix

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.