Jeffrey Heier Sells 3,296 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,296 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.78, for a total transaction of $35,530.88. Following the transaction, the insider directly owned 318,326 shares in the company, valued at $3,431,554.28. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Ocular Therapeutix Stock Down 1.0%

Shares of NASDAQ:OCUL traded down $0.11 on Wednesday, reaching $10.77. The company had a trading volume of 1,364,367 shares, compared to its average volume of 4,141,407. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44. The stock has a 50-day moving average price of $9.61 and a 200 day moving average price of $9.13. The stock has a market capitalization of $2.37 billion, a P/E ratio of -7.58 and a beta of 0.93. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same quarter in the prior year, the firm posted ($0.39) EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $23.00 price target on shares of Ocular Therapeutix in a report on Tuesday, August 4th. 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 stock. Based on data from MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently made changes to their positions in OCUL. Dimensional Fund Advisors LP acquired a new position in Ocular Therapeutix during the first quarter valued at approximately $5,491,000. The Manufacturers Life Insurance Company increased its stake in shares of Ocular Therapeutix by 145.9% in the first quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company’s stock valued at $1,930,000 after buying an additional 135,160 shares during the period. Empire Life Investments Inc. lifted its holdings in shares of Ocular Therapeutix by 115.0% during the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock worth $6,557,000 after purchasing an additional 288,853 shares during the period. Candriam S.C.A. lifted its position in shares of Ocular Therapeutix by 12.8% in the 1st quarter. Candriam S.C.A. now owns 949,216 shares of the biopharmaceutical company’s stock worth $8,040,000 after purchasing an additional 107,614 shares during the period. Finally, Octagon Capital Advisors LP raised its position in shares of Ocular Therapeutix by 20.7% in the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company’s stock worth $26,821,000 after acquiring an additional 543,000 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

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.