Ocular Therapeutix (NASDAQ:OCUL) Announces Earnings Results

Ocular Therapeutix (NASDAQ:OCUL) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06), FiscalAI reports. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The company had revenue of $12.87 million for the quarter, compared to analyst estimates of $14.27 million.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $6.59 on Monday. The business has a fifty day moving average of $8.40 and a 200-day moving average of $9.02. The firm has a market cap of $1.45 billion, a PE ratio of -4.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix has a twelve month low of $6.00 and a twelve month high of $16.44.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $233,159.73. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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. Also, insider Todd Anderman sold 11,984 shares of the firm’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $7.29, for a total transaction of $87,363.36. Following the completion of the sale, the insider owned 140,484 shares of the company’s stock, valued at $1,024,128.36. The trade was a 7.86% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 62,720 shares of company stock worth $556,247 in the last quarter. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OCUL. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, October 15th. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, UBS Group started coverage on shares of Ocular Therapeutix in a research report on Sunday, October 11th. They issued a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

About Ocular Therapeutix

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.