Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $71,081.52 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Nadia Waheed sold 7,863 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $9.04, for a total transaction of $71,081.52. Following the completion of the transaction, the insider directly owned 318,417 shares in the company, valued at $2,878,489.68. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Ocular Therapeutix Trading Up 2.2%

OCUL stock opened at $7.03 on Friday. Ocular Therapeutix, Inc. has a 12-month low of $5.78 and a 12-month high of $16.44. The business’s 50-day moving average is $10.89 and its 200 day moving average is $11.71. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -4.88 and a beta of 0.90.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The business had revenue of $13.25 million for the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The business’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) earnings per share. On average, sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OCUL has been the subject of a number of research reports. HC Wainwright upped their target price on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Chardan Capital restated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.78.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors have recently bought and sold shares of OCUL. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after buying an additional 2,411,953 shares during the period. Avoro Capital Advisors LLC raised its position in shares of Ocular Therapeutix by 5.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after buying an additional 527,777 shares during the period. TCG Crossover Management LLC lifted its holdings in Ocular Therapeutix by 15.0% in the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after acquiring an additional 798,084 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Ocular Therapeutix by 15.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock valued at $56,148,000 after acquiring an additional 620,700 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Ocular Therapeutix by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 4,356,547 shares of the biopharmaceutical company’s stock worth $52,896,000 after acquiring an additional 1,018,094 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

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.