Ocular Therapeutix (NASDAQ:OCUL) Director Richard Md Lindstrom Acquires 60,229 Shares

Ocular Therapeutix, Inc. (NASDAQ:OCUL) Director Richard Md Lindstrom acquired 60,229 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $7.66 per share, for a total transaction of $461,354.14. Following the completion of the purchase, the director owned 246,933 shares of the company’s stock, valued at approximately $1,891,506.78. This represents a 32.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ocular Therapeutix Trading Up 6.4%

OCUL traded up $0.54 during trading on Tuesday, reaching $8.95. The company had a trading volume of 6,321,431 shares, compared to its average volume of 7,037,731. The firm’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $11.64. Ocular Therapeutix, Inc. has a 12-month low of $5.78 and a 12-month high of $16.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -6.22 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. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The company had revenue of $13.25 million for the quarter, compared to analysts’ expectations of $16.13 million. During the same quarter in the previous year, the business posted ($0.29) EPS. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. Equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OCUL shares. Wall Street Zen upgraded shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Needham & Company LLC lowered their price target on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday. HC Wainwright lifted their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Finally, Chardan Capital restated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OCUL. Pale Fire Capital SE increased its holdings in Ocular Therapeutix by 20.7% in the second quarter. Pale Fire Capital SE now owns 530,135 shares of the biopharmaceutical company’s stock valued at $4,920,000 after purchasing an additional 90,748 shares during the period. Saturn V Capital Management LP lifted its stake in shares of Ocular Therapeutix by 21.8% in the 2nd quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock valued at $6,761,000 after purchasing an additional 130,385 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Ocular Therapeutix in the second quarter worth approximately $342,000. Allianz Asset Management GmbH lifted its stake in Ocular Therapeutix by 63.2% in the second quarter. Allianz Asset Management GmbH now owns 61,200 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 23,700 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in Ocular Therapeutix by 33.6% in the second quarter. Panagora Asset Management Inc. now owns 296,546 shares of the biopharmaceutical company’s stock valued at $2,752,000 after buying an additional 74,542 shares during the period. 59.21% of the stock is owned by 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.