Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 7.6% – What’s Next?

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) fell 7.6% during trading on Thursday . The company traded as low as $10.64 and last traded at $10.5940. Approximately 1,173,008 shares were traded during trading, a decline of 71% from the average session volume of 4,006,970 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, August 4th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Ocular Therapeutix Trading Down 1.2%

The firm has a market capitalization of $2.30 billion, a P/E ratio of -7.39 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The firm has a 50 day moving average price of $9.88 and a two-hundred day moving average price of $9.34.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The company 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%.Ocular Therapeutix’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.39) earnings per share. On average, equities research analysts expect that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey Heier sold 3,296 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the transaction, the insider directly owned 318,326 shares in the company, valued at $3,431,554.28. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Also, insider Pravin Dugel sold 21,649 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 ninety days, insiders sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Ocular Therapeutix during the second quarter valued at $190,278,000. Millennium Management LLC boosted its position in Ocular Therapeutix by 3,136.1% during the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after acquiring an additional 3,736,560 shares during the period. Alliancebernstein L.P. boosted its position in Ocular Therapeutix by 2,003.2% during the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares during the period. Commodore Capital LP purchased a new position in Ocular Therapeutix during the 1st quarter valued at about $21,810,000. Finally, Janus Henderson Group PLC grew its stake in Ocular Therapeutix by 106.5% during the 4th quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after acquiring an additional 2,180,702 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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 technology to design sustained-release treatments intended to deliver medication to ocular tissues over extended periods and potentially reduce the need for frequent eye drops or injections.

Its commercial product, Dextenza, is a resorbable intracanalicular insert that delivers dexamethasone to the ocular surface for the treatment of inflammation and pain following ophthalmic surgery.