Peregrine Capital Management LLC Sells 244,443 Shares of Ocular Therapeutix, Inc. $OCUL

Peregrine Capital Management LLC cut its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 28.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 617,519 shares of the biopharmaceutical company’s stock after selling 244,443 shares during the period. Peregrine Capital Management LLC’s holdings in Ocular Therapeutix were worth $7,219,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OCUL. Nisa Investment Advisors LLC grew its position in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,392 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares during the period. Trust Co. of Vermont boosted its stake in shares of Ocular Therapeutix by 16.1% in the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Marex Group plc bought a new stake in shares of Ocular Therapeutix in the 2nd quarter worth about $115,000. Finally, Rafferty Asset Management LLC increased its position in shares of Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Trading Down 1.1%

OCUL stock opened at $11.26 on Friday. The company has a quick ratio of 7.78, a current ratio of 7.85 and a debt-to-equity ratio of 0.27. Ocular Therapeutix, Inc. has a twelve month low of $5.78 and a twelve month high of $16.44. The company has a market cap of $2.40 billion, a P/E ratio of -7.82 and a beta of 0.93. The business has a fifty day moving average of $12.32 and a 200-day moving average of $11.92.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $14.54 million for the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative return on equity of 86.33% and a negative net margin of 447.57%. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

OCUL has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Ocular Therapeutix from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Chardan Capital reissued a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 9th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Finally, HC Wainwright lifted their price objective on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Ocular Therapeutix 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.