Ocular Therapeutix (NASDAQ:OCUL) Shares Down 10.6% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) dropped 10.6% on Thursday . The company traded as low as $8.90 and last traded at $8.9050. 1,188,839 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,467,485 shares. The stock had previously closed at $9.96.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Chardan Capital boosted their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. HC Wainwright reissued a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Ocular Therapeutix Trading Down 2.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The firm has a market cap of $1.96 billion, a P/E ratio of -6.14 and a beta of 0.88. The firm has a fifty day moving average of $9.18 and a 200-day moving average of $9.42.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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. Insiders have sold 28,999 shares of company stock valued at $237,792 in the last ninety days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Steward Partners Investment Advisory LLC lifted its holdings in shares of Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix during the fourth quarter valued at $31,000. Hilton Head Capital Partners LLC raised its position in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,053 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix during the fourth quarter valued at $61,000. Finally, KBC Group NV purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $78,000. Institutional investors and hedge funds 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.