Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 3,057 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,057 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $8.28, for a total transaction of $25,311.96. Following the transaction, the insider owned 323,368 shares in the company, valued at approximately $2,677,487.04. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ocular Therapeutix Stock Performance

Shares of OCUL traded up $0.55 during midday trading on Wednesday, reaching $9.50. The stock had a trading volume of 7,845,017 shares, compared to its average volume of 7,060,435. The firm has a market cap of $2.07 billion, a PE ratio of -6.60 and a beta of 0.90. The firm has a 50 day simple moving average of $10.53 and a 200-day simple moving average of $11.62. Ocular Therapeutix, Inc. has a one year low of $5.78 and a one year high of $16.44. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Chardan Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 18th. HC Wainwright raised their target price on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a report on Thursday, February 5th. Twelve 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 data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds and other institutional investors have recently modified their holdings of OCUL. Steward Partners Investment Advisory LLC boosted its position 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 acquiring an additional 1,242 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Ocular Therapeutix during the fourth quarter worth approximately $42,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $61,000. Finally, KBC Group NV bought a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $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.