Pravin Dugel Sells 21,649 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $233,159.73. Following the completion of the sale, the insider directly owned 2,525,429 shares in the company, valued at approximately $27,198,870.33. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Up 0.5%

NASDAQ:OCUL opened at $10.82 on Friday. The firm has a market capitalization of $2.38 billion, a P/E ratio of -7.62 and a beta of 0.93. The business has a 50 day simple moving average of $9.66 and a 200 day simple moving average of $9.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last issued its 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 firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned ($0.39) earnings per share. Equities research analysts predict that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after buying an additional 5,156 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Ocular Therapeutix in the first quarter valued at approximately $248,000. Creative Planning boosted its holdings in shares of Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 3,791 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock valued at $6,608,000 after acquiring an additional 374,269 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Ocular Therapeutix by 57.9% during the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 6,855 shares during the period. Institutional investors own 59.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Robert W. Baird raised their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Chardan Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, August 4th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and an average price target of $25.75.

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.